Existing-Home Sales Soften on Economic Volatility

Existing-home sales declined on the heels of a strong gain in September as uncertainty and economic concerns increased in October, according to the National Association of Realtors®. Existing-home sales — including single-family, townhomes, condominiums and co-ops — fell 3.1 percent to a seasonally adjusted annual rate(1) of 4.98 million units in October from a downwardly revised pace of 5.14 million in September, and are 1.6 percent... 

Freddie Mac Issues 2009 Funding Calendars

Freddie Mac issued its 2009 funding calendars, which provide optional announcement dates for Reference Notes® securities, potential issuance weeks for Reference REMIC® securities and announcement and auction dates for Reference Bills® securities. The 2009 funding calendars are available on the Debt and Mortgage Securities pages of the company’s Web site at http://www.FreddieMac.com. On the Reference Notes announcement dates set forth on... 

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... 

Fannie Mae to Suspend Foreclosures Until January 2009 While Streamlined Modification Program is Implemented

In order to support the streamlined modification program announced on November 11, 2008, Fannie Mae (NYSE: FNM) issued a notice to its loan servicing organizations and retained foreclosure attorneys directing them to suspend foreclosure sales on occupied single-family properties as well as the completion of evictions from occupied single-family properties scheduled to occur from November 26, 2008 until January 9, 2009. The temporary suspension of... 

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... 

Home Prices Rise in Some Metros, Buyers More Active in Other Areas

Four out of five metropolitan areas recorded lower home prices in the third quarter from a year earlier, while existing-home sales fell in 32 states from the second quarter, according to the latest quarterly survey by the National Association of Realtors®. In the third quarter, 28 out of 152 metropolitan statistical areas(1) showed increases in median existing single-family home prices from the same quarter in 2007; four were unchanged and 120 metros... 

AllRegs FCRA Coursework Approved for Attorney CLE Credit in California and Florida

AllRegs, the leading information provider for the mortgage industry, announced that its Fair Credit Reporting Act (FCRA) coursework has been approved for continuing legal education (CLE) credit by the State Bar of California and the Florida Bar Association. The coursework is delivered through the organization’s education division, AllRegs Academy. “As mortgage regulations continue to evolve based on Congress’ response to recent market changes,... 

REALTORS(R) Help Buyers, Sellers, With Short Sales Solutions

When families lose their homes to foreclosure, communities, the housing market and the economy all suffer. Short sales are one way that some troubled homeowners can avoid foreclosure, and Realtors® at the Short Sales Solutions session today at the 2008 REALTORS® Conference & Expo gained valuable insights into how to facilitate these complex sales. “Homeowners who are struggling to make their mortgage payments must have more options available... 

“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... 

1st Metropolitan Mortgage Introduces BrightGreen Mortgage Program; Toyota Prius Sweepstakes

1st Metropolitan Mortgage, a national mortgage originator, has made a commitment to making the mortgage origination process more environmentally friendly by introducing its national BrightGreen Mortgage program. The program will give originators the tools and support to produce mortgages in a more environmentally-friendly manner while saving borrowers time and money. Participating branches nationwide will operate in a greener and far more sustainable...