Industry makes early plans to exterminate Y2K bug

Article Abstract:

Mortgage-lending institutions are working feverishly to ensure that their computer systems and products are Year 2000-compatible. Required by the government to have Y2K-ready programs in place by Dec 31, 1998, mortgage lenders are busy testing their systems's ability to communicate with other companies in a Y2K environment. Like others in the mortgage sector, the Federal Home Loan Mortgage Corp works to ensure that its operations are not disrupted by the Y2K problem and has completed testing on 99% of all key systems that support both external and internal applications.

Data Processing Administration, Economic aspects, Year 2000 transition (Computers), Information management, Freddie Mac, Data processing

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Pilot program tests automated jumbo, B&C loan evaluation

Article Abstract:

The Federal Home Loan Mortgage Corp. (Freddie Mac) has joined forces with Standard & Poor's to develop a loan evaluation program using Freddie Mac's automated unwriting system called Loan Prospector. The program integrates the Loan Prospector's statistical models with Standard & Poor's loss coverage models to evaluate loans that are more than $207,000 and loans that have credit grades below Freddie Mac's investment-quality standards. The program provides lenders with a single evaluation system for conventional mortgage products.

Software, Technology application, Credit ratings, Standard & Poor's Corp., Federal Home Loan Mortgage Corp.

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Homeownership 2000

Article Abstract:

The Clinton Administration called on housing industry members to support the government's plan to increase national home ownership in the country to 67.5% by 2000. Led by Dept. of Housing and Urban Development Sec. Henry Cisneros, about 50 groups launched various programs to develop affordable housing programs for more households including minorities, young adults, single parents and married couples.

Housing Programs, Administration of Housing Programs, Management, Housing policy, Home ownership

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