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Freddie Chooses Milwaukee for Program
Posted on June 28th, 2010 No commentsThe Federal Home Loan Mortgage Corp. has chosen Milwaukee to pilot a new media campaign designed to help homeowners facing foreclosure and to assist those who want to buy a home, Mayor Tom Barrett said. The program and website is called “Take Root Milwaukee” and also includes a hot line, (414) 921-4149, the Milwaukee Journal Sentinel reported. -
Mortgages Can Be Challenge for Green Homes
Posted on May 1st, 2010 No commentsThe mortgage market has become difficult to navigate for certain types of new residential construction, including environmentally friendly construction. Because of the lack of comparable home sales on which to base an appraisal, Fannie Mae and Freddie Mac won’t buy the mortgages from lenders for resale to investors. Read the Milwaukee Journal Sentinel article.
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Lenders May Lose Billions on Fannie, Freddie
Posted on March 5th, 2010 No commentsLenders including Wells Fargo & Co., Bank of America Corp., Citigroup Inc. and JPMorgan Chase & Co. may be forced to buy back $21 billion in faulty loans from Fannie Mae and Freddie Mac. “The agencies, which have suffered $200 billion in losses since 2007, have been cracking down on boom-era loans issues that may have been issued based on falsely stated incomes or inflated appraisals,” the Business Journal reported.
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Johnson Bank Stays Active in Mortgage Market
Posted on December 22nd, 2009 No commentsResidential mortgages have remained an attractive business segment for Racine, Wis.-based Johnson Bank. The bank was the 22nd largest seller of residential mortgage loans in the country to Freddie Mac, and the largest Wisconsin-based bank for the third quarter of 2009. Read the Small Business Times article.