Fannie, Freddie, and The Housing Forecast

With 25 percent of mortgages underwater and high levels of delinquencies, James Lockhart, former director of The Office of Federal Housing Enterprise Oversight, says the housing market will need another year or more before it shows signs of recovery.

Filed under: Uncategorized, Delinquencies, Fannie Mae, Foreclosures, Freddie Mac, Housing Market, Real-Estate, Second-Lien Modification, Video, Views

Fed Extends Refinance Program

The Federal Housing Finance Agency has extended the deadline on the Home Affordable Refinance Program. The program, administered by Fannie Mae and Freddie Mac, was set to expire on June 10 of this year and has now been extended through June 30, 2011. The effort is aimed to help homeowners who owe up to 25 percent more than their home’s value refinance to lower interest rates. About 190,180 mortgages have been refinanced since it was launched, far fewer than the 4 to 5 million originally projected. More here and here.

Filed under: Uncategorized, Fannie Mae, Federal Programs, Freddie Mac, Housing Industry, News