Advertising Council and NeighborWorks launch foreclosure prevention campaign

National Mortgage Professional

Jul 12, 2007

Freddie Mac enhances financial literacy curriculum and loansMortgagePress.comFinancial literacy courses Freddie Mac has enhanced its CreditSmart multilingual financial literacy curriculum, by adding new material that focuses on homeownership preservation, including foreclosure prevention, planning for emergencies, property maintenance and avoiding financial traps. In addition, Freddie Mac has expanded the baseline business terms of its Freddie Mac Interest-Only Fixed-Rate Mortgage, to make more interest-only financing available to its customers, and will allow more yield maintenance flexibility via its Freddie Mac Treasury Plus Yield Maintenance option. Based in McLean, Va., Freddie Mac is a government-sponsored enterprise that purchases mortgages and related securities and then issues securities and bonds against them. For more information, call (703) 903-2000 or visit www.freddiemac.com.

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Jul 12, 2007

Analysis and Data

Mortgage Rates Fall For 3rd Straight Week

The 30-year mortgage dropped to 6.32%, lowest since mid-February.

Amid continued economic unrest, mortgage rates fell for the third consecutive week this week, Freddie Mac said Thursday. According to the government-sponsored enterprise’s Primary Mortgage Market Survey (PMMS), the 30-year, fixed-rate mortgage (FRM) averaged 6.32%, down 10 ...

Regulation and Compliance

Chopra: Nonbanks, Mortgage Servicers May Also Pose Systemic Risk

CFPB director tells Consumer Bankers Association conference such a failure could lead to 'chaos.'

What happens if a nonbank lender or large mortgage servicer fails? That’s a question that recently has been keeping Consumer Financial Protection Bureau Director Rohit Chopra awake at night. "A major disruption or failure of a large mortgage servicer really gives me a night...