Conventional Mortgage Stories

Conventional Mortgage Technology

Freddie Mac closes on multifamily loan package Pool includes $708 million in multifamily mortgages originated by Reilly Mortgage Group Inc. CBSNews.com October 28 Mortgage process still intimidates, survey finds Survey of 1,015 women and 289 men by the Fannie Mae Foundation indicates that women remain uncomfortable with the process of getting a mortgage SeattleTimes.com October 23 Freddie Mac reports September portfolio summary Year-to-date, mortgage purchases are at $8.758 billion CBSNews.com October 19 Freddie Mac Announces Record Earnings for Third Quarter 1999 Third Quarter 1999 Earnings Per Share Up 29 Percent CBSNews.com October 19 Fannie Mae today reported its posted yields for October 18, 1999 30 yr fixed rates up 15 bp FannieMae.com October 18 Fannie Mae Announces $6.5 Billion `HouseConnecticut' Investment Plan to Finance Affordable Housing for 65,000 Connecticut Families Over Next Five Years BusinessWire.com October 18 Interview with Fannie Mae (FNM) CEO Franklin Raines There is no correlation between Fannie Mae's earnings and interest rates; it is a margin business NewsPage.com October 14 Golden West Financial Reports 21% Increase in Diluted Earnings Per Share Loan Originations Reach All-Time High Parent of World Savings reports income for the first nine months of 1999 BusinessWire.com October 14 Fannie Mae Reports Record Third Quarter 1999 Earnings of $991.0 Million, or $0.94 Per Common Share FannieMae.com October 13 Home mortgage financer reports third-quarter earnings up 16 percent Fannie Mae said Q3 earnings rose 16% from the same quarter in 1998; portfolio >$500 billion Boston.com October 13 Freddie Mac, Fannie Mae Make Plans To Guarantee Riskier Mortgage Classes Agencies looking at lending to subprime "B" borrowers WSJ.com October 11 (subscription required) Colorado Association of Home Builders, "Built Green" Program of Colorado and Fannie Mae Announce New Environmental Mortgage Pilot GMAC Mortgage to participate in program that considers energy costs savings in debt ratio calculations FannieMae.com October 8 NEW LAW REQUIRES LENDERS TO AUTOMATICALLY CANCEL PRIVATE MORTGAGE INSURANCE AS EQUITY RISES Besides forcing lenders to cancel PMI at a specific point, new law also requires lenders to give borrowers a written explanation at closing that they have MI and that they have the right to cancel it at a certain point and send borrowers an annual reminder that they have MI and have the right to request cancellation once they've met certain conditions ChicagoTribune.com October 6 Fannie Mae, Freddie Mac Seen Posting Double-Digit Earnings Growth Growth occurring from their aggressive moves into non-traditional areas like home equity and manufactured housing loans AOL.com October 1 Fannie Mae relaxing credit requirements for some borrowers Government Sponsored Enterprise to offer rates better than those from traditional subprime companies, with a rate that decreases after 24 on time mortgage payments Boston.com September 30 Fannie Mae, Freddie Mac To Post Double-Digit Rise In 3Q Adjustable rate business up; home equity and manufactured housing helped earnings WSJ.com September 30 (subscription required) Fannie Mae and Northern Kentucky Counties Announce $8.3 Million in Affordable Mortgage Funds, Down Payment, and Closing Cost Assistance for Local Families FannieMae.com September 22 Where the mortgage money comes from Without Fannie Mae & Freddie Mac, the federal Office of Management and Budget estimates mortgage rates would be a quarter point to a half point more Examiner.com September 20 HUD Drops Probe Of Fannie, Freddie Fight Over Debt Deal There were allegations that lending giant Fannie Mae (FNM) strong-armed dealers in a sprint with rival lender Freddie Mac WSJ.com September 17 (subscription required) City of Oakland, Bank of America, Freddie Mac and Local Non-profit Groups Launch Unprecedented $1 Billion - 5 Year Housing Commitment NewsPage.com September 16

Anheuser-Busch Cos. is among those that have used e-commerce wisely in advertising Fannie Mae praised as successful in reaching consumers with Internet sites PostNet.com October 12 FREDDIE MAC PROVIDES LOAN PROSPECTOR® USERS WITH UNPARALLELED CREDIT REPORT OPTIONS, CHOICES Lenders can now obtain a merged credit report with their approval from the internet, with one input for Loan Prospector & credit report FreddieMac.com October 4 Online Economics Are Different Internet investors rationalize big price jumps in stocks of E-Loan and Mortgage.com WSJ.com September 30 (subscription required) Fannie Mae Enhances Desktop Underwriter Version 4.5 Includes New Features to Help Lenders Offer More Products, Reach More Borrowers FannieMae.com September 27 Fannie Mae and Chicago Title Corporation Team-Up to Provide Lenders With Appraisal and Flood Information Over MORNETPlus Network FannieMae.com September 22 Webster Mortgage Wins Fannie Mae's National Technology Leadership Award Webster Bank wins award because of its innovative use of technology to streamline the mortgage process FannieMae.com September 10 Waterfield Mortgage, Fannie Mae Form Strategic Alliance Waterfield Mortgage Co., one of the nation's top 50 lenders, will now have access to Desktop Underwriter testing and pilot programs CBSNews.com September 8