Freddie Mac wishes that Congress had passed a GSE regulatory reform bill last year, according to the company's newly issued 2004 annual report."It is unfortunate that a bill didn't pass last year, and we are working hard to achieve one this year," Freddie Mac president and chief executive Richard Syron says in a message to shareholders. The annual report points out that Congress is considering proposals this year that would give the new regulator of housing government-sponsored enterprises the authority to regulate the size of Freddie's mortgage portfolio and "require substantial reductions in those investments." Freddie Mac generates a significant portion of its profits from its $652.9 billion portfolio, and the legislation could have a "materially adverse effect" on Freddie Mac's future earnings, according to management's discussion in the annual report. Last year, the Bush administration was not pressuring Congress to limit the GSEs' portfolios.
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Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
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Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
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In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.
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