Real Estate Broker/Agency News

Alec Hollis to speak at HW Annual Oct. 4

All eyes have been on the Federal Reserve as the housing industry tries to account for the Fed-driven slowdown of the housing market. As a result, lenders have been closely watching and planning for how this impacts their portfolios and business given the increase in mortgage interest rates. To help

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The housing market correction will be deep, and ugly

You think things are bad in the housing market now? Stick around and see if mortgage rates climb into the 7% range. If it happens, the current origination forecast of $2.2 trillion in 2023 will look awfully rosy. Even the most battle-tested industry players are preparing for one of the

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Freddie Mac rolls out agency’s 10th STACR note offering

Freddie Mac is launching its 10th credit-risk transfer transaction of the year via its Structured Agency Credit Risk (STACR) program, bringing the total note offerings through its two flagship STACR series programs to $12.8 billion so far in 2022. The new credit risk transfer (CRT) offering, STACR 2022-DNA7, outlined in a

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Fannie Mae unveils $700M CIRT deal

Fannie Mae has finalized its ninth Credit Insurance Risk Transfer (CIRT) transaction of the year, transferring some $700 million of mortgage credit risk to private insurers and reinsurers, the agency announced. The deal, CIRT 2022-9, involves a covered loan pool of 69,000 single-family mortgages valued at $21 billion. The coverage, which

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Lenders target growing Hispanic homeownership market

Guaranteed Rate and CrossCountry Mortgage have their eyes fixed on serving more Hispanic borrowers, who are expected to make up 70% of homeownership growth in the U.S. over the next 20 years. Chicago-based Guaranteed Rate this week rolled out an expanded Language Access Program, which has applications and loan servicing

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Former HUD official convicted of falsifying records

A former assistant inspector general for the Department of Housing and Urban Development (HUD) has been convicted by a federal jury of concealing efforts to direct tens of millions of dollars in government business to a friend and government contractor to whom he owed money. Eghbal “Eddie” Saffarinia, 62, of Alexandria, Virginia,

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