Federal Housing Administration

Enact Releases 2023 Environmental, Social, and Governance (ESG) Report

Retrieved on: 
Wednesday, March 20, 2024
ACT, Failure, Communication, ESG, Security (finance), Risk, Federal Housing Administration, U.N, TCFD, Annual report, Calendar, Freddie Mac, Fannie Mae, Task force

RALEIGH, N.C., March 20, 2024 (GLOBE NEWSWIRE) -- Enact Holdings, Inc. (Nasdaq: ACT) (Enact) today announced the release of its 2023 Environmental, Social, and Governance (ESG) Report covering the calendar year 2023.

Key Points: 
  • RALEIGH, N.C., March 20, 2024 (GLOBE NEWSWIRE) -- Enact Holdings, Inc. (Nasdaq: ACT) (Enact) today announced the release of its 2023 Environmental, Social, and Governance (ESG) Report covering the calendar year 2023.
  • This report builds upon Enact’s inaugural ESG report published in 2023, for the calendar year 2022, by providing additional insight into Enact’s approach to ESG matters and highlighting progress across our ESG priorities, along with new insights that provide additional transparency into Enact’s ESG journey.
  • The new insights include additional disclosures relating to the Taskforce on Climate-related Financial Disclosures (TCFD) and the United Nations Sustainable Development Goals (U.N. SDGs) frameworks.
  • “On behalf of everyone at Enact, I am pleased to share the next installment in our efforts to build a more inclusive and sustainable future for our customers, employees, investors and communities,” said Rohit Gupta, President and CEO of Enact.

Freedom Mortgage Wins 2024 National Top Workplaces USA Award

Retrieved on: 
Tuesday, March 26, 2024
Organization, Culture, Growth, Workplace, USA Today, Freedom, FHA, Federal Housing Administration, Human, Real estate

BOCA RATON, Fla., March 26, 2024 /PRNewswire/ -- Freedom Mortgage, one of the largest full-service independent mortgage companies, and a top Department of Veterans Affairs (VA) and Federal Housing Administration (FHA) (government-insured) lender in the U.S., has earned the 2024 Top Workplaces USA award, which was published in USA Today. The award is issued by Energage, a purpose-driven organization that develops solutions to build and brand Top Workplaces.

Key Points: 
  • Freedom Mortgage is a 2024 Top Workplaces USA winner in 4th annual survey co-sponsored by Energage and USA TODAY.
  • This is the fourth straight year Freedom Mortgage has been honored with a Top Workplaces USA award.
  • "We are honored to, once again, receive this prestigious award," said Stanley C. Middleman, Freedom Mortgage president and CEO.
  • "Being recognized as a Top Workplaces USA company reaffirms our commitment to fostering a culture of support, growth and community engagement that empowers Freedom Mortgage employees to thrive, both personally and professionally.

Motto Mortgage Planning Now Open in California

Retrieved on: 
Thursday, March 21, 2024
REO, Veterans' affairs, Knowledge, Real estate owned, FHA, Federal Housing Administration, Dream, Golden State, Motto, Real estate

SANTA CLARITA, Calif., March 21, 2024 /PRNewswire/ -- Motto Mortgage, the first-and-only national mortgage brokerage franchise brand in the United States focused on transparency and compliance, has a new office located in the Valencia neighborhood of sunny Santa Clarita, California. Motto Mortgage Planning is now open and serving all markets throughout the Golden State.

Key Points: 
  • Motto Mortgage Planning is now open and serving all markets throughout the Golden State.
  • Motto Mortgage Planning is a customer-first, full-service mortgage brokerage established by Patrick Raach.
  • "Motto Mortgage Planning offers an advantageous alternative to the traditional mortgage bankers currently operating in Santa Clarita," said Patrick Raach.
  • "I am excited to step into this role as loan originator and branch manager at Motto Mortgage Planning.

HOME FLIPPING PLUMMETS ACROSS U.S. IN 2023 AS PROFITS SLUMP AGAIN

Retrieved on: 
Thursday, March 21, 2024
ROI, Tax, Veteran, FHA, Sale, Acquisition, Rate of return, Federal Housing Administration, Housing, Warner Robins, Georgia, Metro, Video game

IRVINE, Calif., March 21, 2024 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released its year-end 2023 U.S. Home Flipping Report, which shows that 308,922 single-family homes and condos in the United States were flipped in 2023. That was down 29.3 percent from 436,807 in 2022 – the largest annual drop since 2008.

Key Points: 
  • In yet another sign of down times for the home-flipping industry, profits and profit margins also sank on quick buy-renovate-and-resell projects.
  • "In 2023, the landscape for home flipping across the U.S. became increasingly challenging," remarked Rob Barber, CEO at ATTOM.
  • Either way, it will take some significant reworking of the financials for home flipping fortunes to turn back around."
  • Gross flipping return on investment was calculated by dividing the gross flipping profit by the first sale (purchase) price.

NAHREP Homeownership and Wealth Building Conference Gathers in Washington, D.C.

Retrieved on: 
Monday, March 11, 2024
Community, Jim Gordon (character), Incoming, Learning Technology Partners, Conference, Assistant, Public housing, Transformation, Policy, Hope, Federal Housing Administration, JW Marriott Hotels, Advocacy, Housing, JPMorgan Chase, National Association, Freddie Mac, Century, Government, Chase, Fireside chats

SAN DIEGO, March 11, 2024 /PRNewswire-PRWeb/ -- The NAHREP Homeownership and Wealth Building Conference https://nahrep.org/springconference/agenda/ features federal housing and senior policy officials discussing present housing issues, including immigration reform, the housing inventory crisis, mortgage access and financial inclusion, commission compression, and more.

Key Points: 
  • The National Association of Hispanic Real Estate Professionals® (NAHREP®) celebrates the first day of its Homeownership and Wealth Building Conference sponsored by Chase, held March 11-13 at the JW Marriott in Washington, D.C.
  • "Together, we will explore the pivotal role Hispanics play in shaping the future of the housing market and our nation.
  • Despite challenges, this gathering represents an opportunity to unlock new pathways for Hispanic participation in homeownership, underscoring NAHREP's pivotal role as the platform for these transformative discussions."
  • For more information about the NAHREP Homeownership and Wealth Building Conference, including registration information and a full agenda, visit https://nahrep.org/springconference/register/
    Questions and Media registration contact:

Freedom Mortgage Wins Fannie Mae STAR Performer Award for 8th Year in a Row

Retrieved on: 
Thursday, March 7, 2024
Fannie Mae, Dream, Overalls, STAR, BOCA, Safety, FHA, Federal Housing Administration, Freedom, Housing, Real estate

BOCA RATON, Fla., March 7, 2024 /PRNewswire/ -- Freedom Mortgage, one of the largest full-service independent mortgage companies, and a top Department of Veterans Affairs (VA) and Federal Housing Administration (FHA) (government-insured) lender in the U.S., has received Fannie Mae's Servicer Total Achievement and Rewards™ (STAR™) Performer Award for the eighth straight year. Freedom Mortgage was recognized for excellence in General Servicing and for demonstrating operational effectiveness and measurable results to improve the housing industry.

Key Points: 
  • Freedom Mortgage was recognized for excellence in General Servicing and for demonstrating operational effectiveness and measurable results to improve the housing industry.
  • Freedom Mortgage is one of the top ten largest servicers in the U.S., according to Inside Mortgage Finance magazine (4Q23).
  • The company is proud to have serviced the mortgages of 2 million homeowners, representing over $460 billion in loans last year.
  • "Once again, we are extremely honored to be recognized by Fannie Mae," said Stanley C. Middleman, president and CEO of Freedom Mortgage.

Freedom Mortgage Corporation Proud to Launch 5th Annual Celebrate Freedom Award Contest

Retrieved on: 
Friday, March 1, 2024
Feeding America, Freedom, Essay, EST, United Service Organizations, FHA, USO, Federal Housing Administration, Meal, Hunger, Real estate

BOCA RATON, Fla., March 1, 2024 /PRNewswire/ -- Freedom Mortgage, one of the largest full-service independent mortgage companies, and a top Department of Veterans Affairs (VA) and top Federal Housing Administration (FHA) (government-insured) lender in the U.S., starts accepting submissions today for the fifth annual Freedom Mortgage Celebrate Freedom Contest. The winner will be announced on July 4, 2024, at the Wawa Welcome America Festival in Philadelphia during the Celebration of Freedom Ceremony presented by Freedom Mortgage.

Key Points: 
  • BOCA RATON, Fla., March 1, 2024 /PRNewswire/ -- Freedom Mortgage , one of the largest full-service independent mortgage companies, and a top Department of Veterans Affairs (VA) and top Federal Housing Administration (FHA) (government-insured) lender in the U.S., starts accepting submissions today for the fifth annual Freedom Mortgage Celebrate Freedom Contest .
  • The Celebrate Freedom Contest is open to all service members, veterans, first responders, and healthcare workers.
  • The Celebrate Freedom Contest grand prize award winner will receive a trip for two to Philadelphia to attend the Wawa Welcome America Festival on July 4 and receive a check for $10,000 from Freedom Mortgage.
  • For full rules and to enter the Freedom Mortgage Celebrate Freedom Contest, visit www.freedommortgage.com/celebrate .

HOME-MORTGAGE LENDING NEAR TWO-DECADE LOW AS SLUMP CONTINUES ACROSS U.S. DURING FOURTH QUARTER

Retrieved on: 
Thursday, February 29, 2024
Metro, Sale, FHA, Trust, Federal Housing Administration, Video game

IRVINE, Calif., Feb. 29, 2024 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released its fourth-quarter 2023 U.S. Residential Property Mortgage Origination Report, which shows that 1.35 million mortgages secured by residential property (1 to 4 units) were issued in the United States during the fourth quarter, representing a 13.8 percent decline from the prior quarter. The drop-off marked the tenth in the last 11 quarters.

Key Points: 
  • Ongoing declines in lending activity during the fourth quarter resulted from losses in all major categories of residential lending.
  • That was down 14.9 percent from the third quarter of 2023 and 18.6 percent from the fourth quarter of 2022.
  • Lenders issued 487,671 residential refinance mortgages in the fourth quarter of 2023, down from 529,683 in the third quarter.
  • Home-purchase borrowing comprised 45.9 percent of all loan originations in the fourth quarter of 2023, down from 48.5 percent in the prior quarter and 48 percent in the fourth quarter of 2022.

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.

Enact Completes Forward XOL Reinsurance Transaction as Part of its Diversified Credit Risk Transfer Program

Retrieved on: 
Thursday, February 1, 2024
ACT, Security (finance), Freddie Mac, Failure, Government, COVID-19, Uncertainty, Annual report, Communication, Federal Housing Administration, Fannie Mae, Risk, CRT, Insurance

This credit risk transfer (CRT) transaction covers a portion of expected new insurance written for the 2024 book year (policies written from January 1, 2024 through December 31, 2024), and is effective January 1, 2024.

Key Points: 
  • This credit risk transfer (CRT) transaction covers a portion of expected new insurance written for the 2024 book year (policies written from January 1, 2024 through December 31, 2024), and is effective January 1, 2024.
  • Reinsurance coverage is provided by a panel of reinsurers each currently rated “A-” or better by Standard & Poor’s or A.M. Best Company, Inc.
    “We’re pleased to have completed this XOL transaction,” said Rohit Gupta, President and CEO of Enact.
  • "Enact continues to be a market leader with its comprehensive CRT program and this transaction further reflects our ability to distribute and minimize credit risk and enhance our capital efficiency.
  • Enact is well-positioned to continue delivering value for our customers and stakeholders."