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Article: Freddie Mac wins more business from heavyweight lenders. (Federal Home Loan Mortgage Corp.)
- Article from:
- American Banker
- Article date:
- January 27, 1994
- Author:
CopyrightCOPYRIGHT 1994 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WASHINGTON -- The nation's top mortgage lenders are showing a new interest in Freddie Mac.
By one key measure, industry leader Countrywide Funding Corp. nearly quadrupled its business with the agency in 1993. The agency issued securities backed by some $11.3 billion of Countrywide loans, up from $2.9 billion in 1992. By contrast, Fannie Mae's securitization of Countrywide loans climbed by just one-third from the previous year, to $14.9 billion.
Some big lenders that had done relatively little business with Freddie Mac in the past vaulted into the ranks of the agency's top customers in 1993. Among them: Norwest Mortgage Inc. of Des Moines, Chemical Bank ...