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Ab Mortgage

AB Mortgage Corp. in Chandler AZ-House Buying or Refinancing

Hello, I am Ben Benjamin , President and CEO of AB Mortgage Corp. When you decide to take out a mortgage it is a big step. There are hundreds of ...

Freddie Mac to help unemployed mortgage borrowers in high-need areas get a job

Mortgage financier Freddie Mac on Thursday announced a program to help unemployed homeowners find a job, part of the federally required initiative known as “Duty to Serve” that requires Freddie and its counterpart Fannie Mae step up their efforts to serve low- and moderate- income communities.

In particular, Duty to Serve directs the two enterprises to improve their activities in manufactured housing, rural housing and preservation of existing affordable housing.

The new initiative builds on a 2015 pilot program between Freddie and job-placement firm NextJob . That pilot included 700 participants, of whom half were considered long-term unemployed. Qualified participants averaged nearly two years without a job before entering the program, a Freddie spokesman told MarketWatch, but within a few months of completing the program, 43% found jobs.

Freddie will again work with NextJob, as well as local partners including CDC of Brownsville, Texas, and HOPE Enterprise Corporation of Jackson, Mississippi.

To free Fannie and Freddie, their regulator may bypass do-nothing Congress

  Exit without Congress.

First, a quick recap: Congress in 2012 specified that both companies would send their capital every quarter to Treasury, until they finally reached zero in 2017. That raised the uncomfortable specter of one or both needing to turn back to Treasury for what they knew would be dubbed a “taxpayer bailout” in the event of a bad quarter.

(That happened in the first quarter of 2018 , when the tax law changes forced both companies to write down the value of assets on their balance sheets.)

Quarter after quarter, the companies remitted their funds to Treasury, as the zero hour loomed larger, even as regulators and housing industry participants protested that such a situation was dangerous for the mortgage market .

But in December, the companies’ regulator, the Federal Housing Finance Agency, struck an agreement with the Treasury Department to allow both to retain a slim capital cushion of $3 billion.

Read : Fannie, Freddie will now keep some capital reserves

How do I notify the bank (holder of mortgage) that I have transferred the house to an AB trust?

you notify them by calling them on the phone