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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In three separate appearances Thursday, Fed Gov. Lisa Cook, Gov. Michael Barr and Vice Chair Philip Jefferson said they are worried that U.S. involvement in the war with Iran could drive up inflation, leading them to conclude that interest rates should remain steady in the near term.
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Americans who qualify for a mortgage with Better will be able to use Bitcoin or USDC as collateral to fund their down payment through a private loan.
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Full documentation was only applied to 2.6% of the underlying pool of mortgages. Debt-to-income, however, was 23.3% when it was applied.
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Layoffs stretch across the organization, including members of Summit's c-suite and its general counsel, the company said in a notice to California officials.
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New questions about Fannie Mae and Freddie Mac's guarantee by experts who saw conservatorship start points to tensions in a stalled secondary offering.
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The 30-year fixed mortgage has increased by 40 basis points since February, while the 15-year is 14 basis points lower than a year ago, Freddie Mac reported.
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