AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Multifamily Swaps Draw Scrutiny.
Freddie Mac's purchase of $6 billion in multifamily loans from Washington Mutual has come under government scrutiny and GSE critics are trying to get Congress to investigate the transaction, which Freddie employed to boost its affordable housing performance.
Freddie Mac paid a $100 million fee to the Seattle-based thrift for the right to securitize the loans, which are backed by multifamily properties with five to 50 units.
However, WaMu has the contractual right to reverse the swap transaction after one year, which has raised eyebrows at the Department of Housing and Urban Development.
"HUD is looking at the details of the WaMu transaction to ensure that housing units associated with the transaction are eligible for credit under HUD's [affordable housing] regulation," HUD assistant secretary John Weicher said.
HUD sets the affordable goals for Freddie Mac and Fannie Mae and it is currently reviewing the affordable housing data submitted by the two government-sponsored enterprises.
Freddie and Fannie recently announced that their loan purchases exceeded their ...
- HSBC Mortgage Corporation (USA), HSBC Bank USA, Freddie Mac, Affordable Housing...
- Press release article from: PR Newswire February 2, 2004 700+ words
Freddie Mac, HSBC Mortgage...and the Affordable Housing Partnership...education by the Affordable Housing Partnership...USA) and Freddie Mac. The full...homeownership. "The Affordable Housing Partnership...effort with Freddie Mac to make ...
- Standard Federal Bank Senior Vice President Mary M. Fowlie Named to Freddie...
- Press release article from: PR Newswire May 17, 1999 700+ words
...CRA, has been named to the Freddie Mac Affordable Housing Advisory Council. The Affordable...might not otherwise have access to affordable housing." In addition to Freddie Mac's Affordable Housing Advisory Council, Ms. Fowlie...
- GSEs See Automation as Spurring Low-Mod Housing.(Fannie Mae and Freddie Mac;...
- Magazine article from: National Mortgage News Anderson, Kim Renay June 12, 2000 700+ words
...Fannie Mae and Freddie Mac deliver on their...the agencies' affordable housing efforts which...Coffey said. Freddie Mac said automated...trend in making affordable housing loans and has...he said. Freddie Mac officials said...technology to make ...
- Congressman Royce, Freddie Mac, and Local Partners Reach Out To Latino...
- Press release article from: PR Newswire April 29, 2003 700+ words
...Initiative developed by Freddie Mac, the Affordable Housing Clearinghouse and the National...said Craig Nickerson, Freddie Mac's vice president of community...Housing Finance Agency and the Affordable Housing Clearinghouse for coming...
- Freddie Mac and Washington Mutual Complete $6 Billion Multifamily Mortgage Loan...
- Press release article from: PR Newswire October 21, 2003 700+ words
...underscores Freddie Mac's commitment to affordable housing and contributes...significant because affordable housing goal regulations...encourage Freddie Mac's financing...meet our affordable housing commitments...introduction of the Freddie ...
- Freddie Mac Gets Multifamily Affordable Housing Relief from Congress.
- Magazine article from: National Mortgage News January 2, 2001 700+ words
Freddie Mac's lobbying effort...program under the affordable housing rules, which are...multifamily unit Freddie Mac finances, it gets...one unit under the affordable housing goals. Freddie Mac spokeswoman Sharon...
- Freddie Mac Helped a Record Number of Families Obtain Low Cost Mortgages and...
- Press release article from: PR Newswire February 16, 2004 700+ words
...seconds. Freddie Mac also exceeded the affordable housing goals established...provide quality affordable housing to millions...families. Freddie Mac has exceeded...the special affordable housing goal, exceeding...said Freddie Mac Chairman...
- CITY, COMMUNITY ORGANIZATIONS TEAM WITH MORTGAGE LENDER, FREDDIE MAC, MGIC ON...
- Press release article from: PR Newswire June 7, 1994 700+ words
...equal and fair access to affordable housing through mortgage financing...the mortgage insurance and Freddie Mac will purchase the mortgages...Guarantor Swap Program. Freddie Mac will evaluate the performance...method will be reviewed by Freddie Mac to determine the ...