Freddie Mac is looking to be a player in the commercial-mortgage securitization niche by pooling together multifamily loans and securitizing them through a dealer. Mike May, Freddie Mac's senior vice president, multifamily sourcing, told Mortgage Wire that the GSE sees the current market disruption as a good opportunity to get into this business. The plan is for Freddie Mac to aggregate the loans, buying them from its network of lenders, and either hold on to or securitize the senior pieces of the loans, while securitizing the 'B' pieces through a dealer. If the senior pieces were to be securitized, they would carry the Freddie Mac label.
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The publicly traded title holding companies all had stronger earnings as the mortgage market improved from one year prior.
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One in every 37 residential properties nationwide had a loan-to-value ratio of 125% or greater to begin the year, according to a new report.
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There's temporary leeway on formal compliance with replacement-cost value requirements in order to sort out insurer concerns with a recent re-emphasis on them.
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Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn't foresee major cost savings from generative AI for a few more years.
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Test your knowledge of the biggest mortgage headlines of the week. No. 2 pencil not required!
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The San Diego company was back in the black with a net income of $28.5 million in the first quarter of 2024, up from a net loss of $93 million the previous quarter.
May 9