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Tag Archives: Freddie Mac

New federal rules set for appraisal management companies

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By TED CARTER Mississippi legislation that two years ago set new rules for appraisal management companies should largely free appraisal companies in the state from taking on newly enacted compliance standards. Six federal financial regulatory agencies have implemented minimum requirements for state registration and supervision of appraisal management companies (AMCs), an entity that provides appraisal management services to lenders or underwriters ...

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COMMERCIAL FINANCE 701: Permanent loans & other oxymora

  A n oxymoron – a clever figure of speech that seemingly contradicts itself – can be pretty amusing.  Jumbo shrimp.  Postal Service. Justice Ginsburg.  Devout atheist.  Unbiased opinion. One of our favorite finance-related oxymora is PERMANENT LOANS.  Our partner Roger Williams leads an active practice group specializing in permanent loans for multifamily properties.  But don’t be duped.  Permanent loans ...

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Short sales invite fraud

Perhaps with the end of the nation’s housing crisis, a previously seldom-heard term — the short sale — will go away. And with its departure, banks will be relieved of the short sale frauds that investigators with federal mortgage guarantor Freddie Mac say costs lenders nationwide hundreds of millions of dollars a year. Mississippi hasn’t had any prosecutions of short ...

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Buying a home? Not so dreamy

For most today, a home mortgage is the largest single investment that one normally makes over a working lifetime. It can also be said, however — after the initial excitement of purchasing the home has been made — that dealing with the procedures necessary to buying a home can also be one of the biggest hassles in life, as well. ...

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Fannie, Freddie chief’s rejection of mortgage reductions has bankers smiling

  Fannie Mae and Freddie Mac won’t be taking part in the Obama administration’s home mortgage principal reduction program. That’s bad news for underwater homeowners but cause for rounds of high-fives among executives in the nation’s financial sector. The setback for homeowners came Tuesday when Federal Housing Finance Agency Acting Director Ed DeMarco bowed to pressure from Wall Street and ...

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Business Digest: Realtors hope $25B foreclosure settlement will spark housing revival

With the residential real estate industry shell-shocked from years of a moribund market, its spokespeople can be forgiven for taking a cautious attitude toward this week’s announcement of a $25 billion settlement with five of the nation’s biggest mortgage lenders over flawed and fraudulent foreclosure practices. The money in the settlement will mostly go to borrowers and homeowners who are ...

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Freddie Mac posts $4.1B loss for Q3

WASHINGTON — Government-controlled mortgage buyer Freddie Mac on Wednesday posted a narrower loss of $4.1 billon in the third quarter as it asked for an additional $100 million in federal aid – substantially less than the $1.8 billion it sought in the second quarter. Freddie Mac’s loss attributable to common stockholders for the July-September quarter works out to $1.25 a ...

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