Robert Van Order, Freddie Mac's chief economist since 1987, has been named to the newly created position of chief international economist. Frank Nothaft, Freddie Mac's deputy chief economist, will take over as chief economist. In the new post, Dr. Van Order will focus on international financial issues affecting the government-sponsored enterprise and advise foreign organizations on "the benefits of a secondary mortgage market," Freddie Mac said. Before joining the GSE, Dr. Van Order served as director of the Housing Finance Analysis Division at the Department of Housing and Urban Development from 1982 to 1985, as a HUD economist from 1976 to 1982, and as visiting professor of real estate at the Graduate School of Management at the University of California, Los Angeles. Dr. Nothaft previously served as an economist with the Federal Reserve Board. Freddie Mac's website address is http://www.freddiemac.com.
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Malloy Evans and Danielle McCoy are moving on as both Williamson and Tom Klein, deputy general counsel, take on their respective responsibilities for now.
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The industry analyst also described the significant refinance opportunity should rates decline slightly, and the threshold where home prices soften or firm up.
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The Arkansas-based company spent nearly four years on the M&A sidelines, grappling with asset quality issues and litigation tied to its 2022 acquisition of Texas-based Happy State Bank. Now it's signed a letter of intent to buy an unnamed bank.
October 24 -
The company cited efforts to improve profitability behind its decision, with Popular joining a line of other banks in ending mortgage operations in 2025.
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The mortgage unit of Hilltop Holdings lost $7.2 million pretax in the third quarter with lower volume, following making a small profit three months prior.
October 24 -
FHA loans accounted for about half of the annual rise in foreclosure starts and 80% of the rise in active foreclosures in September, according to ICE.
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