Columbia Bank is an Approved FHA Mortgage Lender

Columbia Bank announced that it has begun accepting applications for Federal Housing Administration (FHA) Residential Mortgage Loans within New Jersey. As an approved FHA lender, Columbia Bank has been granted the authority to offer qualified homebuyers the opportunity to purchase a home with a low down-payment, low closing costs and more flexible credit guidelines. Columbia’s FHA Mortgage Loans are specifically designed for borrowers who would... 

Freddie Mac Receives NYSE Notification on Continued Listing

Freddie Mac reported in a filing with the Securities and Exchange Commission (SEC) that the company has been notified by the New York Stock Exchange (NYSE) that it has failed to satisfy one of the NYSE’s standards for continued listing of its common stock. The NYSE advised the company that it was below the exchange’s price criterion for common stock because the average closing price of Freddie Mac’s common stock over a consecutive... 

Freddie Mac Suspends All Foreclosure Sales of Occupied Homes From Day Before Thanksgiving Until January 9, 2009

Freddie Mac (NYSE: FRE) announced it has ordered its national network of mortgage servicers and foreclosure attorneys to suspend all foreclosure sales and evictions involving occupied single family and 2-4 unit properties with Freddie Mac-owned mortgages between November 26, 2008 and January 9, 2009. The suspension will help servicers implement the Streamlined Modification Program recently announced by Freddie Mac, Fannie Mae, the Federal Housing... 

“New” 2009 Conforming Loan Limit Unchanged From $417,000; High-Cost Areas Now Max Out at $625,500

The Federal Housing Finance Agency (FHFA) announced that the “new” conforming loan limit for 2009 will remain at $417,000 for most areas in the U.S., unchanged since 2006. Loan limits for high-cost areas, including California, are capped at $625,500, down from the previous $729,750 limit. Loan limits for many areas of the state do not reach this lower threshold and are dramatically reduced from 2008. “Although price declines mean that the total... 

Centerline Supports Federal Government’s Conservatorship of Fannie Mae and Freddie Mac

Centerline Holding Company, the parent company of Centerline Capital Group, an alternative asset manager focused on real estate funds and financing, supports the federal government’s action placing Fannie Mae and Freddie Mac under conservatorship of the Federal Housing Finance Agency (FHFA), their regulator. In response to speculation regarding how government control of the enterprises might affect their multifamily housing finance activities during...