Mortgage News Daily

Mortgage News Daily

Foreign Buyers Pumping the Brakes; Most Mortgage Rate Headlines Are Wrong Today

Foreign buyers cut back their investment in U.S. residential properties over the 12 months that ended in March. It was the second year-over-year decline. The National Association of Realtors® (NAR) annual survey among its members about their transactions with international clients found foreign buyers purchased $74 billion in existing U.S. homes from April 2019 through March 2020, a 5 percent …

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Fannie and Freddie Remain Profitable Despite Mortgage Delinquencies; JD Power Ranks Mortgage Servicers

Both government supported enterprises (GSE) reported increased profits in the second quarter of 2020 compared to Q1. Fannie Mae said its net comprehensive income was $2.53 billion compared to $476 million and Freddie Mac’s quarterly results were 1.94 billion, an increase of $1.32 billion from the previous period. Both companies had reported extraordinarily low net profits in Q1, largely due …

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