Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), and for yet another week, fixed-rate mortgages reached record lows, as did the five-year adjustable rate in this survey. The 30-year fixed-rate survey began in 1971, the 15-year began in 1991, and the five-year adjustable in 2005.Read more

Delinquency rates were mixed in the second quarter for commercial/multifamily mortgage investor groups, according to the Mortgage Bankers Association's (MBA) Commercial/Multifamily Delinquency Report. The delinquency rate for loans held in commercial mortgage-backed securities (CMBS) is the highest since the series began in 1997. Delinquency rates for other groups remain below levels seen in the early 1990s, some by large margins.Read more

U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan has announced an agreement with the nation’s top mortgage lenders to offer selected state and local governments, and non-profit organizations a “first look” or right of first refusal to purchase foreclosed homes before making these properties available to private investors. The National First Look Program is a first-ever public-private partnership agreement between HUD and the National Community Stabilization Trust (Stabilization Trust).Read more

RiskSpan Inc. has announced that it has hired Allen H. Jones as managing director of its federal services consulting practice in Washington, D.C. Jones most recently served as Bank of America's (BOA) government lending executive where he managed the transition and integration of Countrywide under the BOA umbrella. He was subsequently named BOA's executive for default management public policy and national outreach.Read more

Credit Plus Inc., a leader in the credit information industry since 1928, has announced that it is offering a suite of products to help lenders comply with the more stringent selling requirements that Freddie Mac announced in its Aug. 16 Bulletin 2010-19. “Making the mortgage process easier for lenders is our focus at Credit Plus. New requirements and rules are constantly being introduced, which is why we are so vigilant about developing tools that keep lenders compliant.Read more

Freddie Mac has named Subha V. Barry to the position of chief diversity officer (CDO). In this position, Barry will lead the company's newly formed Office of Diversity and Inclusion, with overall responsibility for the combined functions of Diversity and Inclusion and Supplier Diversity.Read more

Freddie Mac has announced the results of its second quarter Conventional Mortgage Home Price Index (CMHPI). The Conventional Mortgage Home Price Index (CMHPI) Purchase-Only Series for the United States registered a 3.1 percent (13.2 percent annualized) increase in the second quarter relative to the first quarter on a not-seasonally-adjusted basis. U.S. home values fell 0.2 percent relative to the second quarter a year ago.Read more

The Federal Housing Finance Agency (FHFA) has released its first Conservator’s Report on the Enterprises’ Financial Condition. The Conservator’s Report provides an overview of key aspects of the financial condition of Fannie Mae and Freddie Mac (the government-sponsored enterprises) during conservatorship. The report will be released on a quarterly basis following the filing of the Enterprises’ financial results with the Securities and Exchange Commission (SEC).Read more

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), and for yet another week, the fixed-rate mortgages reached another low, while the five-year adjustable rate remained tied at its low for this survey. The 30-year fixed-rate mortgage (FRM) averaged 4.36 percent with an average 0.7 point for the week ending Aug. 26, 2010, down from last week when it averaged 4.42 percent. Last year at this time, the 30-year FRM averaged 5.14 percent.Read more

Embrace Home Loans, a direct lender for Fannie Mae and Freddie Mac, approved by FHA and VA, and an issuer for Ginnie Mae, has officially opened a new branch in Waldorf, Md. The branch is located at 2255 Crain Highway and is managed by Frank Nesbit. Nesbit has more than 12 years of mortgage branch management experience. With a combined 60 years of mortgage lending experience, the Waldorf team is members of the Southern Maryland Association of Realtors. Vice President Joe Beacher who also oversees the Wilmington, Del.Read more