Freddie Mac is providing additional services to credit unions under a newly restructured alliance with the Credit Union National Association.Under the new agreement, Freddie will provide a special account management team for CUs and it will provide secondary-market execution for single-loan transactions. "Other advantages include implementation and transaction fee discounts for Web-based Mortgagebot with the Loan Prospector business-to-consumer website," Freddie and CUNA said. Mortgagebot is a Web-based loan origination portal. CUNA first entered into an alliance with Freddie in 2002. CUNA senior vice president Wes Miller said the alliance provides CUs with much-needed flexibility to originate mortgages. "Through Freddie Mac, credit unions will have affordable lending solutions to meet the needs of low- and moderate income borrowers," he said.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A labor shortage is costing the market tens of thousands of new homes per year, and tariff uncertainty is adding thousands of dollars in expenses per unit.
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The pace of revenue growth slowed toward the end of 2024, with the trend continuing into the first three months of this year, NAHB reported.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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The 10 basis point decline in the 30-year fixed mortgage was the most since March and the first time rates are below 6.7% since April, Freddie Mac said.
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The firm, now going by Fairway Home Mortgage, said the change is a representation of plans to create a "connected ecosystem."
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