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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The drop in the annual metric for FHA loans was the biggest in over four years but other performance indicators ICE Mortgage Technology tracked were mixed.
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NJ Lenders suffered a cyberattack last August, which potentially exposed the names and social security numbers of about 30,000 individuals.
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Its origination volume of $621.8 million was an increase of $114 million compared with the first quarter but its gain-on-sale was 5 basis points lower.
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The mortgage subsidiary of PlainsCapital Bank saw improvement in its bottom line but remained in the red amid ongoing affordability constraints.
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Though the crimes occurred earlier this decade, they highlight how much easier it has become to create false documents today, given the rise of artificial intelligence.
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The "stay-put" economy, along with higher mortgage rates, is responsible for this shift where home equity and seconds have a 17.5% market share, Benutech found.
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