Freddie Mac had its second-best purchase month of the year in September, but it also revealed why it has been gaining market share on its chief competitor, Fannie Mae: it has been adjusting the guarantee fee it charges lenders "up or down relative to the current level of security price spreads."Sources note that in recent months it has been doing more business with some large seller/servicers that normally send more of their conventional production to Fannie Mae. A few months back, Freddie said publicly that it would change the way it does business to improve the price performance of its participation certificates, which compete against comparable Fannie Mae securities. Freddie bought $90.8 billion in mortgages in September, a 9% decline from the total in August, which was its best month of the year. Freddie's retained portfolio grew by $26 billion in September. For the year to date its portfolio has grown by 13%, but the company warned that growth in the fourth quarter will be "low." Freddie Mac can be found online at http://www.fanniemae.com.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A labor shortage is costing the market tens of thousands of new homes per year, and tariff uncertainty is adding thousands of dollars in expenses per unit.
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The pace of revenue growth slowed toward the end of 2024, with the trend continuing into the first three months of this year, NAHB reported.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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The 10 basis point decline in the 30-year fixed mortgage was the most since March and the first time rates are below 6.7% since April, Freddie Mac said.
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The firm, now going by Fairway Home Mortgage, said the change is a representation of plans to create a "connected ecosystem."
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