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Freddie Mac names new senior VP and chief compliance officer

The executive is an accomplished compliance officer with over 20 years of experience Freddie Mac has appointed Dennis Hermonstyne Jr. (pictured) as its new senior vice president and chief compliance officer. He is set to join the company on September 19 and will become part of the senior operating committee. Hermonstyne has spent over two

FEMA Major Disaster Declaration – Minnesota Severe Storms, Straight-line Winds, Tornadoes, and Flooding

FEMA has issued a Major Disaster Declaration for the state of Minnesota to supplement state, tribal and local recovery efforts in areas affected by severe storms, straight-line winds, tornadoes and flooding from May 29-30, 2022.  The following counties have been approved for assistance: Public Assistance: Aitkin Big Stone Cass Chippewa Crow Wing Douglas Grant Itasca

ABA-FHFA: Fannie, Freddie sold nearly 155,000 non-performing loans since 2014

Fannie Mae and Freddie Mac have sold 154,972 nonperforming loans as of Dec. 31, 2021, with a total unpaid balance of $28.7 billion, according to the Non-Performing Loan Sales Report released today by the Federal Housing Finance Agency. On average, the NPLs had a delinquency of 2.8 years and an average current loan-to-value ratio of 86%. Nearly half (41%) of the


This report provides information about the Enterprises’ sales of NPLs and borrower outcomes post-sale. The report contains the following key information: ● Quantity and attributes of NPLs sold from August 1, 2014 through December 31, 2021.● Borrower outcomes as of December 31, 2021 on NPLs sold through June 30, 2021.● Borrower outcomes post-sale compared to

Mortgage Rates Continue to Escalate, Moves Closer to 6%

Mortgage rates continued their upward momentum this week and show no signs of slowing down as they ticked up closer to the 6 percent mark, according to data released Thursday by Freddie Mac. Rates for fixed-rate mortgages have surged since the start of the year, rising more than two full percentage points. The higher borrowing costs are

Ginnie Mae Extends Some COVID-19 Policies

Ginnie Mae is extending the deadline for delinquency reporting exemptions and for alternative audit procedures Ginnie Mae announced last week that it is extending certain pandemic-era policies, including delinquency reporting exemptions. Delinquency reporting exemptions were set to expire at the end of July, but Ginnie Mae said issuers now have until Jan. 31, 2023. It also said that

FEMA: Nearly $1.3M Awarded to Connecticut for 2018 Storm Recovery Costs

The Federal Emergency Management Agency said Wednesday it has awarded nearly $1.3 million to Connecticut to reimburse the administrative costs of recovering from tornadoes and storms that struck the state on May 15, 2018. The agency said the state Department of Emergency Services and Public Protection will receive a total of $1,275,694 in federal funding through