Freddie Mac and InCharge Debt Solutions, a non-profit credit counseling service, are providing a limited number of low- and moderate-income borrowers access to a platform designed to assist them in managing their outstanding loans. EarnUp is an online solution that helps borrowers manage loans, and provides personalized recommendations on how to pay down debts.

“The increasing rate of consumer debt and the low homeownership rate lead us to believe average Americans can use help managing their debts,” said Danny Gardner, vice president of affordable lending and access to credit in Freddie Mac’s Single-Family Business. “Offering free access to EarnUp’s technology is one of the many ways we’re building on our broader community mission, which includes our efforts to stabilize communities, responsibly expand credit and educate borrowers.”

InCharge is part of Freddie Mac’s network of 14 Borrower Help Centers and the national Freddie Mac Borrower Help Network. These housing counseling agencies support Freddie Mac’s commitment to preparing prospective home buyers for long-term sustainable homeownership and helping struggling borrowers, including those with Freddie Mac-owned mortgages, avoid foreclosure.

EarnUp clients can have money pulled their accounts on payday, helping to ensure that consumers stay current on their loans and avoid late fees. Clients can manage all their loans in one place using EarnUp and receive personalized recommendations on how to pay down their debts. EarnUp has received funding from Blumberg Capital, Kapor Capital, Camp One Ventures and others.

“Our experience shows that people are more likely to stay current on their loan payments if we make it quick and easy for them to do so,” said Matthew Cooper, co-founder and CEO of EarnUp. “EarnUp is proud to be working with InCharge Debt Solutions and Freddie Mac to provide technology solutions that can help consumers improve not only their credit scores but also their overall financial health.”

U.S. house prices rose in October, up 0.3 percent from the previous month, according to the Federal Housing Finance Agency seasonally adjusted monthly House Price Index.

The previously reported 0.2 percent increase in September remained unchanged. The FHFA monthly HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac. From October 2017 to October 2018, house prices were up 5.7 percent.

For the nine census divisions, seasonally adjusted monthly price changes from September 2018 to October 2018 ranged from a drop of 0.6 percent in the South Atlantic division to 1.4 percent in the Pacific division. The 12-month changes were all positive, ranging from 3.3 percent in the Middle Atlantic division to 8.5 percent in the Mountain division.

Also, the FHFA Index recorded an increase in mortgage rates for November.

In the U.S. interest rates on conventional purchase-money mortgages increased from October to November, according to several indices of new mortgage contracts.

The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.86 percent for loans closed in late November, up 11 basis points from 4.75 percent in October.

The average interest rate on all mortgage loans was 4.82 percent, up 10 basis points from 4.72 in October.

The average interest rate on conventional, 30-year, fixed-rate mortgages of $453,100 or less was 4.99 percent, up 12 basis points from 4.87 in October.

The effective interest rate on all mortgage loans was 4.91 percent in November, up 10 basis points from 4.81 in October. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.

The average loan amount for all loans was $318,600 in November, up $3,500 from $315,100 in October.
 

CoreLogic has launched the Alliance Network, offering third-party solutions that complement and integrate with the organization’s real estate technology platforms such as Matrix, Realist and Trestle. The Alliance Network is made up of third-party solutions for multiple-listing organizations and real-estate brokers that enhance the use of CoreLogic real estate platforms. “A wide variety of real estate technology solutions are available today—which is a good thing—but it can be very hard to identify which ones work with your current platforms,” said Kevin Greene, principal of business development for CoreLogic. “We created the Alliance Network to provide clients with a curated selection of third-party solutions that complement and integrate with CoreLogic platforms. Of course, the Alliance Network is a valuable resource for any multiple listing organization or broker looking for property-tech solutions, not just CoreLogic clients.” “Since joining the Alliance Network, we’ve introduced SavvyCard to a much broader audience of MLSs and brokerages across North America,” said David Etheredge, CEO of SavvyCard. “Our development teams worked closely to integrate SavvyCard with Matrix, significantly increasing product usage and effectiveness. And the CoreLogic sales team has done a wonderful job communicating the value of SavvyCard.” “For a long time, multiple-listing organizations have looked to CoreLogic to find solutions that will help make their subscribers more successful,” said Chris Bennett, executive leader of real estate solutions for CoreLogic. “We have selected companies for the Alliance Network that offer solutions which complement the CoreLogic platform offerings. We then add value to those relationships through advanced technology integration and sales guidance. Clients can expect to get more out of the program as the Alliance Network continues to grow.”