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Lown's resignation creates a second vacancy in the government-sponsored enterprises c-suite, as it is also looking for a new CEO.
A decline in interest rates during the first quarter drove a Freddie Mac indicator higher for the first time since mid-2023, while a leading investment firm announced a deal aimed at boosting originations for government-sponsored enterprise financing.
Federal Reserve Chair Jerome Powell says crushing inflation is the most important thing the Fed can do to reduce costs in the housing market. Some economists and policy specialists say higher rates are not the only tool at its disposal.
The term is open to interpretation and may refer to a broad range of real-estate finance activity. An "independent mortgage banker" has a narrower definition.
Proceeds could be used to support the company's loan originations as well pay down existing debt coming due in the next three years.
Home inventory on the market increased in May, but stubbornly high mortgage rates and home prices are leading to slow sales in many areas, according to reports from Redfin and Zillow.
