Fannie Mae, Freddie Mac roll mortgage modification interest rate back to 4%

In November, Fannie and Freddie both lowered the standard mortgage modification interest rate to 3.875%. Prior to that, the standard mortgage modification interest rate had never been below 4%. But beginning Dec. 14, the standard mortgage modification interest rate will return to 4%.

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Fannie Mae and Freddie Mac, two mortgage-finance firms that back nearly half of U.S. mortgages, will have to consider credit-score alternatives to Fair Isaac Corp.’s FICO score when determining.

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With rising home prices and rising interest rates, cash-outs will dominate the dwindling percentage of refis. Random Fannie, Freddie, Conventional Conforming News This morning Fannie Mae reported net.

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Fannie Mae was established as part of President Franklin D. Roosevelt’s New Deal program to provide liquid cash to banks that issue mortgages. Along with Freddie Mac, which was established in.

Servicers urged to act quickly in mortgage settlement write-downs Freddie Mac economist sees sunny economy in second half Reports that exceeded expectations kept rates low: economist. CHICAGO (MarketWatch) — Economic reports that were better than expected kept mortgage rates low this week, Freddie Mac’s chief economist said on Thursday. The 30-year fixed-rate mortgage averaged 5.22% for the week ending Aug. 6, down from 5.25% last week and 6.52% a year ago, · The interim final rule gives servicers a 10-day window to provide a modified notice at the end of a 180-day period. The summary notes that, based on the comments received, CFPB will consider whether to revisit this rule. link: summary: cfpb interim final Rule re: mortgage servicing rules under the Real Estate Settlement Procedures Act (Regulation X)

The fannie mae servicing Guide has been updated to simplify servicing. Updates include reducing post-foreclosure risks and costs, streamlining processes by allowing servicers to leverage the Flex.

Mortgage rates began 2015 by sliding even further below 4% as bond yields dropped amid concerns about the economy. According to the latest Freddie Mac Primary Mortgage Market survey, the 30-year,

Fannie Mae, Freddie Mac increase mortgage modification interest rate to highest level in 18 months – For the second time in two months, Fannie Mae and Freddie Mac announced that they are increasing the benchmark interest rate for standard mortgage modifications. at 4% or above since December 2015..

Fannie Mae/Freddie Mac borrower-paid mortgage insurance cancellation summary Both Fannie Mae and Freddie Mac amended their guidelines to comply with the Homeowners Protection Act (HPA) of 1998, and updated their guidelines for loans not covered by the HPA. A summary of Fannie Mae’s and Freddie Mac’s guidelines is provided below.

That makes the secondary mortgage market more liquid and helps lower the interest rates paid by homeowners and other mortgage borrowers. Fannie Mae and Freddie Mac also can help stabilize mortgage markets and protect housing during extraordinary periods when stress or turmoil in the broader financial system threaten the economy.

Ally to reduce mortgage principal in Michigan mortgage servicer must agree to match the funding given by the state to reduce the principal balance; thereby creating more affordable housing payments for the homeowner. NOTE: These programs will be administered through your mortgage loan servicer beginning July 12th, 2010. To find out more about the Helping Hardest Hit Homeowners

Mortgage News Daily provides the most extensive and accurate coverage of the mortgage interest rate. Mortgage Rates Fall Back Down to 3-Year Lows. Fannie Mae and Freddie Mac launched their.