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Freddie Mac Crosses $5 Billion Mark in Low-Income Housing Tax Credit Investments

By Staff Writer

MCLEAN, Va. - By closing on its $20 million investment in The Enterprise Social Investment Corporation (ESIC) Empire and Garden States Equity Fund, Freddie Mac's portfolio of Low-Income Housing Tax Credit investments now exceeds $5 billion. Formed in 1986, the federal LIHTC program gives corporate investors credit against their federal...

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Nine-Mo. CD at 9% Wins `Best Idea"

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CUMEX Mortgage Service Center Adds SingleFileT Mortgage Insurance Program to its Mix

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August 16, 2005

Directors Rollick Over CU Game Show

LAS VEGAS - They played "Credit Union Jeopardy" at the National Directors' Convention and the hilarious event pitting three CU executives in a version closely matching the popular TV show nearly brought down the house. Complete with the syncopated music and lit up toteboards, the three "contestants" appearing on stage...

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August 16, 2005

Lower than Expected Interest Rates Boost Cash-Out Refinance Activity

MCLEAN, Va. - Continuing low interest rates are spurring higher than expected cash-out refinance activity, Freddie Mac reports. In the second quarter of 2005, 74% of Freddie Mac-owned loans that were refinanced resulted in new mortgages with loan amounts that were at least 5% higher than the original mortgage balances....

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August 16, 2005

Former Felon Reveals Tricks of the Mortgage Fraud Trade

HUNTINGTON BEACH, Calif. - Want to find the weak links in an institution's fraud prevention safety net? Ask a convicted mortgage fraud felon. Kevin Barnes was once an insider in the industry, working as a loan officer, branch manager and loan broker for 20 years. He became involved in an...

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August 16, 2005

Pedri, Safeway CU Chairman in Colorado, is `Director of Year'

LAS VEGAS - The chairman of a Colorado credit union involved in a financial turnaround several years ago and who more recently helped guide the institution through a planned merger with DPSCU of Denver has been named "Director of the Year." The honors to Bert Pedri, chairman of Safeway Rocky...

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August 16, 2005

Reducing Loan Portfolios Important in Rising Rate Environment, But How to Do it Best?

HUNTINGTON BEACH, Calif. - Credit unions with an abundance of loans have two primary portfolio management strategies: securitization through secondary mortgage companies like Fannie Mae or Freddie Mac, or whole loan sales on the open market. Deciding which strategy is best - or whether a combination of both is more...

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August 16, 2005

Will this Congress be More Successful at Passing GSE Reform Legislation?

WEST PALM BEACH, Fla. - Will the second go-around by the House and Senate to pass legislation that would tighten regulation of the housing Government Sponsored Enterprises be more successful than their first attempt two years ago? Rep. Richard Baker (R-La.) and Senate Banking Committee Chairman Richard Shelby (R-Ala.), coming...

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August 09, 2005

Special Report: Corporates

Corporates are still gearing up for image exchange. Read about that and other corporate CU news in the special report on pages 22-30.

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Freddie Mac Crosses $5 Billion Mark in Low-Income Housing Tax Credit Investments

Nine-Mo. CD at 9% Wins `Best Idea"

CUMEX Mortgage Service Center Adds SingleFileT Mortgage Insurance Program to its Mix

Recommended Just For You

News Stories

Directors Rollick Over CU Game Show

Lower than Expected Interest Rates Boost Cash-Out Refinance Activity

Former Felon Reveals Tricks of the Mortgage Fraud Trade

Pedri, Safeway CU Chairman in Colorado, is `Director of Year'

Reducing Loan Portfolios Important in Rising Rate Environment, But How to Do it Best?

Will this Congress be More Successful at Passing GSE Reform Legislation?

Special Report: Corporates