Joseph A. Smialowski has been named executive vice president of operations and technology at Freddie Mac, effective Dec. 1.Mr. Smialowski was most recently executive vice president at Fleet Boston Financial, where he had direct oversight of the company's information technology, bank operations, and corporate real estate, among other things. He will be responsible for managing the largest segment of Freddie Mac's business operations, including all the company's mortgage origination and servicing, investment and capital markets operations, and information systems divisions. Mr. Smialowski will report to Eugene M. McQuade, Freddie's president and chief operating officer. "Joe brings to Freddie Mac world-class operations and technology expertise that will help create a better customer experience through integrated operating and technology platforms," Mr. McQuade said. Prior to joining Fleet Boston in 1998, Mr. Smialowski was chief information officer at Sears, Roebuck and Co. Freddie Mac can be found online at http://www.freddiemac.com.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
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In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
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The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
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But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
April 18 -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18