Tag Archives: Freddie Mac

The Obama administration said Tuesday that it plans to deliver a proposal for housing finance reform to Congress by January 2011. Government officials will hold a conference on August 17 at the Treasury building in Washington D.C. to solicit input from industry stakeholders on the future of the housing finance system, Fannie Mae, and Freddie Mac. The White House says the ""heads private shareholders win, tails taxpayers lose"" structure at the GSEs makes no sense for the nation...and change is coming.

The number of past due home loans guaranteed by Freddie Mac has fallen below the 4 percent threshold. The milestone is a sign that the performance of the GSEs' loan portfolio is improving and loss mitigation efforts are having an impact, considering Freddie endured three long years of delinquency increases until March of this year. The company's latest report shows that the number of single-family mortgages at least three months past due or in foreclosure stood at 3.96 percent at the end of June. That's down from a high of 4.20 percent as recently as February.

In order to double its mortgage banking operation, Superior Bank of Alabama announced Tuesday that it will add more than 60 people to its existing operation.