John Cannon, senior vice president of Freddie Mac
Multifamily, added, "We are pleased to expand our partnership with Walker & Dunlop and look forward to working with them to finance multifamily properties in Alabama and Tennessee.
For many years, Freddie Mac
has played a major role in supporting the MISMO[R] standards.
First, it contended that the transaction did not involve granting put options to the mortgage originators that paid commitment fees to Freddie Mac
Stipulate that there be no specific portfolio caps or directive for the regulator to reduce the portfolios of Fannie Mae and Freddie Mac
Potential buyers need to keep in mind that Freddie Mac
is just starting the lender-training portion of the program and this could take several months.
During the past year, four congressionally mandated government reports reviewed the role of Fannie Mae and Freddie Mac
in mortgage markets and discussed their performance in serving the credit needs of lower-income homebuyers.
Given that Freddie Mac
actually is entitled to only a very small portion of the total cash flows from sold mortgages, we believed that increasing the value of assets and liabilities shown on the balance sheet would be misleading because it would focus attention on the form rather than on the substance of the balance sheet.
Major lenders compete for construction loans for these projects, but these same lenders have been absent in providing permanent financing which has traditionally been provided by Fannie Mac and Freddie Mac
Although Freddie Mac
obtained its amortizable basis in the favorable financing intangible under a specific DRA provision that subjected the institution to Federal income tax, the Tax Court's holding in this case will apply broadly to any purchaser of assets that assumes the seller's existing debt with a below-market interest rate.
For the reasons outlined below, we expect the FHA and the VA to have the greatest involvement with lower-income and black or Hispanic borrowers, Fannie Mae and Freddie Mac
somewhat less involvement, and the PMI companies the least.
We're also delighted that Freddie Mac
has demonstrated confidence in the strength of our company and the depth of our affordable team.
is currently the special servicer for approx.
is one of the motors of the residential real estate market.
One of the new approaches developed by SBO involves requiring eligible Seller/Servicers and DUS Lenders to actively compete for the right to represent an owner seeking permanent credit enhancement from Fannie Mae or Freddie Mac
However, the data suggest that the mortgages purchased by other secondary market institutions in 1992 generally included higher proportions of conventional home loans extended to lower-income families and to families living in central cities relative to the purchases by Fannie Mae and Freddie Mac