Mortgage industry of the United States

Mortgage Connect Appoints Brian Frye As Executive Vice President Servicing & Capital Markets Strategy

Wednesday, February 24, 2021 - 9:11pm

PITTSBURGH, Feb. 24, 2021 /PRNewswire/ -- Mortgage Connect LP , a national mortgage services provider for the nation's largest financial institutions, investors, servicers and GSEs, today announced it has appointed Capital Markets veteran Brian Frye to the role of Executive Vice President, Servicing and Capital Markets Strategy.

Key Points: 
  • PITTSBURGH, Feb. 24, 2021 /PRNewswire/ -- Mortgage Connect LP , a national mortgage services provider for the nation's largest financial institutions, investors, servicers and GSEs, today announced it has appointed Capital Markets veteran Brian Frye to the role of Executive Vice President, Servicing and Capital Markets Strategy.
  • "We are pleased to have Brian leading our Servicing and Capital Markets sales and strategy.
  • Prior to joining Mortgage connect in 2019, he was Senior Vice President at Linear Title LLC, (later purchased by Solidifi) where he established the firm's Capital Market division.
  • Mortgage Connect is a Pittsburgh, PA headquartered national mortgage service provider, serving the Origination, Default, Valuation, Critical Communications, and Capital Markets sectors.

Freddie Mac Prices $1 Billion Multifamily K-Deal, K-741

Wednesday, February 24, 2021 - 8:01pm

The K-741 Certificates are backed by corresponding classes issued by the FREMF 2021-K741 Mortgage Trust (K-741 Trust) and guaranteed by Freddie Mac.

Key Points: 
  • The K-741 Certificates are backed by corresponding classes issued by the FREMF 2021-K741 Mortgage Trust (K-741 Trust) and guaranteed by Freddie Mac.
  • Freddie Mac Multifamily is a leading issuer of agency-guaranteed structured multifamily securities.
  • Freddie Mac undertakes no obligation, and disclaims any duty, to update any of the information in those documents.
  • Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders.

Freddie Mac Prices $952 Million Multifamily K-Deal, K-F100

Wednesday, February 24, 2021 - 3:00pm

The K-F100 Certificates are backed by corresponding classes issued by the FREMF 2021-KF100 Mortgage Trust (KF100 Trust) and guaranteed by Freddie Mac.

Key Points: 
  • The K-F100 Certificates are backed by corresponding classes issued by the FREMF 2021-KF100 Mortgage Trust (KF100 Trust) and guaranteed by Freddie Mac.
  • Freddie Mac Multifamily is a leading issuer of agency-guaranteed structured multifamily securities.
  • Freddie Mac undertakes no obligation, and disclaims any duty, to update any of the information in those documents.
  • Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders.

Lodasoft Now Offering Single-Click Dual AUS Submissions for Freddie Mac & Fannie Mae

Wednesday, February 24, 2021 - 1:30pm

Lodasoft , a Digital Workflow Platform designed by mortgage veterans to revolutionize loan origination and task automation, today announced it is now offering single-click submissions of loan data to both Freddie Mac and Fannie Maes automated underwriting systems (AUS), delivering greater transactional ease and operational efficiency.

Key Points: 
  • Lodasoft , a Digital Workflow Platform designed by mortgage veterans to revolutionize loan origination and task automation, today announced it is now offering single-click submissions of loan data to both Freddie Mac and Fannie Maes automated underwriting systems (AUS), delivering greater transactional ease and operational efficiency.
  • Additionally, the dual-AUS submission and review process will allow lenders to maximize loan fungibility in the secondary market and improve loan quality through automation.
  • By submitting loan data via a single click to both Freddie Mac and Fannie Mae, lenders can see the full view of options available to their borrowers and ultimately deliver an improved experience.
  • Lodasoft is an award-winning and highly acclaimed mortgage task automation software designed by mortgage veterans to enhance productivity and quality.

Ginnie Mae Utilizes Wolters Kluwer eOriginal Technology for First Fully Electronic Securitization

Wednesday, February 24, 2021 - 2:00pm

Wolters Kluwer Compliance Solutions newly acquired eOriginal technology platform is helping support a major U.S. government institutions efforts to adopt digital technologies as part of its broader modernization initiative.

Key Points: 
  • Wolters Kluwer Compliance Solutions newly acquired eOriginal technology platform is helping support a major U.S. government institutions efforts to adopt digital technologies as part of its broader modernization initiative.
  • Ginnie Mae, an eOriginal client, recently announced a key milestone in its digital journey by guaranteeing securitization of mortgage-backed securities (MBS) for the first time exclusively through the use of eNotes technology, utilizing the eOriginal platform.
  • This transaction marks a turning point for Ginnie Mae and for the broader mortgage industry in facilitating the digital securitization of loans, said Angel R. Hernandez, Director of MBS Policy and Program Development, Office of the President for Ginnie Mae.
  • Wolters Kluwer Compliance Solutions Paycheck Protection Program Supported by TSoftPlus , for example, helps U.S. lenders small business customers access critical stimulus funding.

Federal Home Loan Bank of Dallas Reports Fourth Quarter and Full Year 2020 Operating Results

Tuesday, February 23, 2021 - 6:32pm

The Federal Home Loan Bank of Dallas (Bank) today reported net income of $32.5 million for the quarter ended December 31, 2020.

Key Points: 
  • The Federal Home Loan Bank of Dallas (Bank) today reported net income of $32.5 million for the quarter ended December 31, 2020.
  • Total assets at December 31, 2020 were $64.9 billion, compared with $66.3 billion at September 30, 2020 and $75.4 billion at December 31, 2019.
  • Advances totaled $32.5 billion at December 31, 2020, compared with $34.3 billion at September 30, 2020 and $37.1 billion at December 31, 2019.
  • At December 31, 2020, September 30, 2020 and December 31, 2019, the Bank also held a $0.1 billion long-term U.S. Treasury Note classified as trading.

Federal Home Loan Bank of Indianapolis Declares Dividends, Reports Earnings

Tuesday, February 23, 2021 - 5:38pm

2The Bank uses interest-rate swaps to hedge the risk of changes in the fair value of certain of its advances, available-for-sale securities and consolidated obligations.

Key Points: 
  • 2The Bank uses interest-rate swaps to hedge the risk of changes in the fair value of certain of its advances, available-for-sale securities and consolidated obligations.
  • 3Each year Federal Home Loan Banks ("FHLBanks") allocate to the AHP 10% of earnings, defined as income before assessments, plus interest expense on mandatorily redeemable capital stock.
  • Advances outstanding at December31, 2020, at carrying value, totaled $31.3 billion, a net decrease of $1.1 billion, or 3%, from December31, 2019.
  • 6The Bank's liquidity portfolio consists of cash, interest-bearing deposits, securities purchased under agreements to resell, federal funds sold and U.S. Treasury securities.

Freddie Mac Credit Protects $167.2 Billion of Single-Family Mortgages in Fourth Quarter

Monday, February 22, 2021 - 6:46pm

MCLEAN, Va., Feb. 22, 2021 (GLOBE NEWSWIRE) -- Freddie Mac s Single-Family business today announced that its Credit Risk Transfer (CRT) program transferred credit risk via $4.8 billion of issuance on $167.2 billion of single-family mortgages from U.S. taxpayers to the private sector in the fourth quarter 2020.

Key Points: 
  • MCLEAN, Va., Feb. 22, 2021 (GLOBE NEWSWIRE) -- Freddie Mac s Single-Family business today announced that its Credit Risk Transfer (CRT) program transferred credit risk via $4.8 billion of issuance on $167.2 billion of single-family mortgages from U.S. taxpayers to the private sector in the fourth quarter 2020.
  • In 2020, the company transferred risk via $16.9 billion of issuances on more than $475.8 billion of mortgages.
  • Despite a challenging environment, Freddie Macs Single-Family CRT program closed out its biggest year ever in 2020, said Freddie Macs Mike Reynolds, Vice President of Single-Family CRT.
  • Through its flagship offerings, Freddie Mac issued approximately $4.2 billion across three STACR and four ACIS transactions in the fourth quarter.

Rising Bank Launches Mortgage Loans, Insurance & Zelle on its Digital Platform

Monday, February 22, 2021 - 2:30pm

Rising Bank has expanded into the mortgage sector to help homeowners with home loan options.

Key Points: 
  • Rising Bank has expanded into the mortgage sector to help homeowners with home loan options.
  • Whether customers are looking to buy or refinance, Rising Bank helps remove the complexity from home borrowing.
  • With competitive rates and personalized service, Rising Bank offers customized financial solutions on an easy-to-use digital platform.
  • Rising Bank customers can quickly compare and select insurance solutions for vehicle, property and business insurance, life insurance and specialty insurance.

Fort Hood Area Habitat for Humanity to Use $200K for Homeowner Repairs

Monday, February 22, 2021 - 2:00pm

Extraco Banks and the Federal Home Loan Bank of Dallas (FHLB Dallas) have awarded a $200,000 Affordable Housing Program (AHP) subsidy to Fort Hood Area Habitat for Humanity (FHA Habitat) for critical home repairs and renovations.

Key Points: 
  • Extraco Banks and the Federal Home Loan Bank of Dallas (FHLB Dallas) have awarded a $200,000 Affordable Housing Program (AHP) subsidy to Fort Hood Area Habitat for Humanity (FHA Habitat) for critical home repairs and renovations.
  • AHP funds are intended to assist FHLB Dallas members in financing the purchase, construction and/or rehabilitation of owner-occupied, rental or transitional housing and housing for homeless individuals.
  • AHP funds must be used to benefit households with incomes at or below 80 percent of the median income for the area.
  • We respect FHA Habitats focus on stability and self-reliance of homeowners in the region it serves, said Cinthia Hernandez, mortgage operations manager at Extraco Banks.