Freddie Mac

EDM Council Launches Data Excellence Program

Retrieved on: 
Wednesday, February 14, 2024
BT Group, Education, Culture, Data management, Organization, Freddie Mac, Information architecture, Management

NEW YORK, Feb. 14, 2024 /PRNewswire/ -- The EDM Council has introduced the Data Excellence Program in response to the growing need for standardized measurement and recognition of data management excellence at the organizational level.

Key Points: 
  • NEW YORK, Feb. 14, 2024 /PRNewswire/ -- The EDM Council has introduced the Data Excellence Program in response to the growing need for standardized measurement and recognition of data management excellence at the organizational level.
  • "The EDM Council is thrilled to launch the Data Excellence Program with our members, fostering a community of organizations dedicated to unlocking the full value of their data assets," said John Bottega, President, EDM Council.
  • Key elements of the Data Excellence Program include:
    Founding members of the Data Excellence Program include both participating companies and Certified Partners, who are authorized by the EDM Council to support members in achieving the program criteria:
    "We are honored to be one of the founders of the Data Excellence Program, the first-of-its-kind, global initiative acknowledging those organizations who are making an ongoing commitment to achieving best practices across their data functions," said Ben Clinch, Head of Information Architecture, BT Group.
  • "As a founding member of the EDM Council's Data Excellence Program, we look forward to meaningfully contributing to this area globally, and continuing to cultivate world-class data excellence in our Freddie Mac teams and throughout the industry."

Freddie Mac Announces Fourth Quarter and Full-Year 2023 Financial Results

Retrieved on: 
Wednesday, February 14, 2024
Fourth, OTCQB, Consumer, Housing, FMCC, Annual report, Freddie Mac

MCLEAN, Va., Feb. 14, 2024 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today reported its Fourth Quarter and Full-Year 2023 financial results and filed its Annual Report on Form 10-K with the U.S. Securities and Exchange Commission.

Key Points: 
  • MCLEAN, Va., Feb. 14, 2024 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today reported its Fourth Quarter and Full-Year 2023 financial results and filed its Annual Report on Form 10-K with the U.S. Securities and Exchange Commission.
  • The company’s Form 10-K and earnings press release, along with the Fourth Quarter 2023 financial results supplement are available now on the Investor Relations page of the company’s website.
  • The company will hold a call at 9 a.m. Eastern Time (ET) today, February 14, 2024, to share its results with the media.
  • The call will be concurrently webcast , and the replay will be available on the company’s website for approximately 30 days.

Former Senior U.S. Housing Officials Launch New Subsidiary, Gate House Compliance, To Support Fair Lending and Servicing

Retrieved on: 
Wednesday, February 14, 2024
Banking, Professional Services, White House, Federal Government, Residential Building & Real Estate, State, Local, Commercial Building & Real Estate, Construction & Property, Legal, Urban Planning, REIT, Finance, Public Policy, Government, Consulting, Private practice, Algorithm, Democrat, Fannie Mae, Gatehouse, Person, Artificial intelligence, Assistant, Republican, Risk management, Marketing, Housing, HUD, Olaf Scholz, Federal Housing Finance Agency, Senior advisor, Letter, Risk, K&L Gates, Administration, Private sector, FHA, Freddie Mac, Policy, Knowledge, Federal Housing Administration, Public, Face, Audit

Gate House Compliance has been established as a subsidiary of Gate House Strategies , an advisory company co-founded in 2021 by Montgomery and four other former HUD officials and where he serves as Chairman.

Key Points: 
  • Gate House Compliance has been established as a subsidiary of Gate House Strategies , an advisory company co-founded in 2021 by Montgomery and four other former HUD officials and where he serves as Chairman.
  • In creating the compliance subsidiary, Gate House Strategies partners are joined by other luminaries in financial services and specialists in fair lending and consumer protection law and regulation.
  • Michael Waldron is a founding partner of Gate House Compliance.
  • To provide the new advisory firm with operational and analytical support, Gate House Compliance formed an alliance with CrossCheck Compliance , a nationwide regulatory compliance and risk management consulting firm.

Freddie Mac Announces Release Date for Fourth Quarter and Full-Year 2023 Financial Results

Retrieved on: 
Tuesday, February 13, 2024
OTCQB, Consumer, Housing, FMCC, Freddie Mac

MCLEAN, Va., Feb. 13, 2024 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB:FMCC) announced today that it plans to report its Fourth Quarter and Full-Year 2023 financial results before the U.S. financial markets open on Wednesday, February 14, 2024.

Key Points: 
  • MCLEAN, Va., Feb. 13, 2024 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB:FMCC) announced today that it plans to report its Fourth Quarter and Full-Year 2023 financial results before the U.S. financial markets open on Wednesday, February 14, 2024.
  • The company will hold a call at 9 a.m. Eastern Time (ET) on Wednesday, February 14, 2024, to share the company’s results with the media.
  • The call will be concurrently webcast , and the replay will be available on the company’s website for approximately 30 days.
  • All materials related to the call will be available on the Investor Relations page of the company’s website.

Primis Mortgage Company, Subsidiary of Primis Bank, Becomes First Banked Owned Originator to Adopt FICO® Score 10 T to Increase Access to Homeownership

Retrieved on: 
Tuesday, February 13, 2024
Technology, Construction & Property, Insurance, Finance, Fintech, Consulting, Banking, Professional Services, Software, Residential Building & Real Estate, Qasr Ibrim, Growth, Organization, FDIC, Fannie Mae, Capital market, Freddie Mac, Credit

This move is a demonstration of Primis’ tech-forward strategy and dedication to helping more first-time buyers into homes.

Key Points: 
  • This move is a demonstration of Primis’ tech-forward strategy and dedication to helping more first-time buyers into homes.
  • In using FICO® Score 10 T for its non-conforming mortgage products, Primis Mortgage will be able to better evaluate new applications in real time and make more data-driven lending decisions.
  • “Primis means first, and we are pleased to be the first bank to adopt FICO’s most innovative score for mortgage originations,” said Greg Richardson, Executive Vice President of Capital Markets at Primis.
  • FICO® Score 10 T can help lenders better manage credit risk and default rates when extending competitive credit offers to consumers.

Federal Home Loan Bank of San Francisco Now Accepts Mortgage Collateral Using VantageScore 4.0 – Expanding Number of Diverse and Creditworthy Mortgage Applicants

Retrieved on: 
Monday, February 12, 2024
SAN, Algorithm, Federal Home Loan Banks, American Dream, Fannie Mae, VantageScore, Urban Institute, SVP, Bank, Federal Housing Finance Agency, Government, Safety, Ecosystem, Patelco Credit Union, Freddie Mac, Social, Housing, Urban

By expanding the kind of mortgage collateral eligible to be pledged by member financial institutions borrowing from FHLBank San Francisco, lenders will be able to increase the amount of creditworthy mortgage applicants and include many underserved borrowers left out by conventional models.

Key Points: 
  • By expanding the kind of mortgage collateral eligible to be pledged by member financial institutions borrowing from FHLBank San Francisco, lenders will be able to increase the amount of creditworthy mortgage applicants and include many underserved borrowers left out by conventional models.
  • “We know there are millions of creditworthy borrowers aspiring to be homeowners who are falling through the cracks,” said Teresa Bryce Bazemore, President and CEO of the Bank of San Francisco.
  • Notably, FHLBank San Francisco is the first in the Federal Home Loan Bank System to accept collateral that uses VantageScore’s predictive and inclusive credit scoring model.
  • In that report, FHLBank San Francisco highlighted the VantageScore 4.0 model as being more inclusive and particularly effective in communities currently excluded from the mortgage marketplace.

CME Group Inc. Names Slate of Director Nominees

Retrieved on: 
Thursday, February 8, 2024
S&P Dow Jones Indices, NYMEX, Metal, Treasurer, Board of Trade, New York Mercantile Exchange, TCW Group, B-2, OTC, Class, Department of the Treasury, Senior advisor, S&P, Fellow, Principal, Policy, Freddie Mac, CME Group, Financial services, Standard, CME, EBS, Congress, LTD, Senior, ABN, COMEX

CHICAGO, Feb. 8, 2024 /PRNewswire/ -- CME Group Inc., the world's leading derivatives marketplace, today announced its slate of candidates for its board of directors for election at the company's annual meeting to be held Thursday, May 9, 2024.

Key Points: 
  • CHICAGO, Feb. 8, 2024 /PRNewswire/ -- CME Group Inc., the world's leading derivatives marketplace, today announced its slate of candidates for its board of directors for election at the company's annual meeting to be held Thursday, May 9, 2024.
  • In addition, the CME Group Nominating and Governance Committee is recommending the following individuals for election by CME Group's Class B shareholders.
  • CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates , equity indexes , foreign exchange , energy , agricultural products and metals .
  • In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing.

Mortgage Rates Show Little Movement

Retrieved on: 
Thursday, February 8, 2024
FRM, Freddy, Freddie Mac, Consumer, FMCC, Housing, OTCQB

MCLEAN, Va., Feb. 08, 2024 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey ® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.64 percent.

Key Points: 
  • MCLEAN, Va., Feb. 08, 2024 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey ® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.64 percent.
  • “Mortgage rates remain stagnant, hovering in the mid-six percent range over the past several weeks,” said Sam Khater, Freddie Mac’s Chief Economist.
  • “The economy and labor market remain strong with wage growth outpacing inflation, which is keeping consumer spending robust.
  • The 15-year FRM averaged 5.90 percent, down from last week when it averaged 5.94 percent.

Best’s Special Report: AM Best Updates Net Capital Charge Tables Associated With Fannie-Freddie Mortgage Risk Transfers

Retrieved on: 
Wednesday, February 7, 2024
Insurance, Professional Services, Transfer, Freddie Mac, Table, CIRT, News, Capital, Publication, ACIS, Fannie Mae, ALL, CRT

These tables also highlight some of the key components of the factor-based method used to calculate net capital charges in the Best’s Capital Adequacy Ratio (BCAR) model.

Key Points: 
  • These tables also highlight some of the key components of the factor-based method used to calculate net capital charges in the Best’s Capital Adequacy Ratio (BCAR) model.
  • The net capital charge of CRT transactions is represented as B5m—mortgage-related net loss and LAE reserves risk—in the net required capital formula that is part of BCAR.
  • For this Best’s Special Report, “Updated Net Capital Charge Tables for ACIS/CIRT Reinsurance Transactions,” AM Best has selected approximately half the 164 CRT transactions effective through December 2023 to calculate the net capital charges associated with individual layers of the CRT transactions.
  • AM Best publishes these net capital charge tables semi-annually, using the most current performance data available from the government-sponsored enterprises’ websites.

Greystone Names Debby Jenkins and Mordecai Rosenberg Co-Presidents of Lending Business Platform

Retrieved on: 
Wednesday, February 7, 2024
Partnership, Fannie Mae, Heart, CMBS, HUD, Cushman & Wakefield, Freddie Mac, Growth, Health

NEW YORK, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Greystone , a leading national commercial real estate finance company, announced that Debby Jenkins and Mordecai Rosenberg have been appointed Co-Presidents of the firm’s comprehensive lending business platform, effective immediately, and will report directly to Steve Rosenberg, founder and CEO of Greystone.

Key Points: 
  • NEW YORK, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Greystone , a leading national commercial real estate finance company, announced that Debby Jenkins and Mordecai Rosenberg have been appointed Co-Presidents of the firm’s comprehensive lending business platform, effective immediately, and will report directly to Steve Rosenberg, founder and CEO of Greystone.
  • Together, Ms. Jenkins and Mr. Rosenberg will seek to elevate, expand, and innovate across a variety of lending disciplines, including the firm’s Agency debt, HUD-insured lending, CMBS, equity, structured finance, proprietary products, debt placement and advisory services, and loan servicing platforms.
  • “We gained significant market share in 2023 and are poised for immense growth in 2024 as we anticipate fundamentals to drive demand for the unique set of products and services offered by Greystone, along with the strength of our partnership with Cushman & Wakefield,” said Mordecai Rosenberg.
  • “I am thrilled to take on this new challenge alongside Mordecai, as well as build out our banking channel focus and alternative capital platform and enhance our capital markets capabilities.