On Tuesday, Freddie Mac, the mortgage buyer said it made losses in the first quarter. However, the mortgage finance giant said the losses were not too big force it to request a government infusion.
Freddie Mac reported loss of $354 million in the Q1. Freddie is susceptible to quarterly losses as its derivative swing as they are sensitive to changes in the interest-rates.
By the end of last year when the Federal Reserve decided to raise the record low key interest rates for the first time in a long time, most of the future homebuyers thought that cheaper mortgage rates will soon become a distant dream. But, surprisingly that has not been the case.
In August 2014, the FICO credit score announced that it had altered the formula that is used for calculating the credit score.
The change particularly will no more penalize consumers who have a credit history featuring collection of medical debt.
The Federal Housing Finance Agency is reported to have subpoenaed firms that are revealed to have transferred its mortgage-backed securities to Fannie Mae and Freddie Mac. The step is deemed to be in line with the regulator's bid to discern whether issuers can be considered responsible for losses on the debt.
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