Top executives at Fannie Mae now believe that home prices will not "begin to stabilize until the end of 2009," Fannie Mae president and chief executive officer Daniel Mudd told investors and analysts on Friday.As a result, he said Fannie Mae has taken additional steps to tighten risk management, including an increase in the company's guarantee fee last week. Fannie Mae affirmed its 2007 credit loss estimate of 4 to 6 basis points of its total book of business. However, Mr. Mudd said the credit loss ratio could move up to 8-10 bps next year, an estimate that assumes a 4% national decline in home values and no national recession.
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The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
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The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.
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The five states with the lowest property taxes have an average effective real-estate tax rate of 0.44%.
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Ohio-based Liberty Home Mortgage joins several companies who started using a more modernized FICO credit score for nonconforming mortgage originations recently.
April 17 -
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
April 17 -
The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
April 17