Freddie Mac has joined forces with Mississippi Home Corp. in Jackson, Miss., in providing $900,000 for the acquisition and positioning of more than 35 travel trailer units that will be used to provide temporary housing to Mississippians displaced by hurricanes Katrina and Rita."Freddie Mac's monetary partnership with MHC, the state's housing finance authority, will enhance our efforts of making temporary housing readily accessible for displaced persons affected by the destruction of the recent storms," said Mississippi Gov. Haley Barbour. The temporary units will be placed on a homeowner's property and tied into existing utilities during the reconstruction of the home. Six units have been set in place and the balance should be in place by the end of October. MHC is accepting applications through its website from homeowners needing temporary housing but who are ineligible for Federal Emergency Management Agency housing assistance. Freddie Mac can be found online at http://www.freddiemac.com, and MHC can be found at http://www.mshc.com.
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Lenders may not be able to fully respond to the broader government-sponsored enterprises' rollout of VantageScore 4.0 yet but there is one thing they can do now.
September 11 -
Sellers are easing demands as rates hit 15-month highs, giving buyers leverage. Originators: target sideline buyers before next week's Fed hike lifts rates further.
September 11 -
The decrease in jumbo availability accounted for much of the drop in the latest mortgage credit index, as conforming and government offerings were unchanged.
September 11 -
The consumer price index rose 0.4% last month, in line with July's reading. For a monetary policy committee that has been split on inflation, the inconclusive report will compel the Fed to make a call on whether to raise interest rates or stay put.
September 11 -
Abacus Federal Savings Bank in Chinatown scrambled to reopen in the days following the World Trade Center attacks. The exercise resulted in the bank's first disaster-recovery plan.
September 11 -
The current transaction has the largest collateral pool that the platform has issued all year, with 294 loans, and it has the highest percentage of conforming loans, at 45.1%.
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