Executive Perspectives Blog
Ten years ago, Freddie Mac Multifamily envisioned a future multifamily housing finance system, and began the process of transforming our business – and we haven’t looked back.
One of the industry’s best-kept secrets is the steady decline in mortgage repurchase activity, at least for the mortgages Freddie Mac buys.
Today Freddie Mac reported a net loss of $354 million and a comprehensive loss of $200 million for the first quarter of 2016. This loss was mainly caused by the GAAP accounting measurement differences associated with our use of derivatives to hedge interest rate risk, whereby the derivatives are fair valued but many of the assets and liabilities being hedged are not.
I enjoy woodworking and recently made a bookcase for my daughter's bedroom using multiple tools, including a saw, drill and screws. Without these different tools, it would have been a tough job indeed! In a similar fashion, we take a multiple-tool approach to the way we transfer single-family credit risk at Freddie Mac.
Freddie Mac recently announced Loan Closing AdvisorSM
, Loan Product AdvisorSM
and Business Intelligence – new tools and functionality scheduled to go live this summer with Loan Advisor Suite
. Loan Advisor Suite is Freddie Mac's smart, end-to-end technology solution designed with lenders to help lenders deliver high-quality loans and acquire earlier insight into representation and warranty relief during the loan production process. Freddie Mac SVPs Andy Higginbotham and Christina Boyle discuss the impact on lenders.