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Ironically, the so-called “unavailable list” of properties that do not qualify for Fannie Mae is unavailable for public inspection. As a result, owners, buyers, sellers, associations, mortgage ...
The United States Housing and Economic Recovery Act of 2008 (commonly referred to as HERA) was designed primarily to address the subprime mortgage crisis.It authorized the Federal Housing Administration to guarantee up to $300 billion in new 30-year fixed rate mortgages for subprime borrowers if lenders wrote down principal loan balances to 90 percent of current appraisal value.
"Over the past decade Fannie Mae and Freddie Mac have reduced required down payments on loans that they purchase in the secondary market. Those requirements have declined from 10% to 5% to 3% and in the past few months Fannie Mae announced that it would follow Freddie Mac's recent move into the 0% down payment mortgage market." [153]
The GSEs Fannie Mae and Freddie Mac were both placed in conservatorship in September 2008. [7] The two GSEs guaranteed or held mortgage-backed securities (MBS), mortgages, and other debt with a notional value of more than $5 trillion. [8] Merrill Lynch was acquired by Bank of America in September 2008 for $50 billion. [9]
The lender does not have to adhere to the Federal Housing Finance Agency’s (FHFA) standards used by Freddie Mac and Fannie Mae, the government-sponsored enterprises (GSEs) that back and buy most ...
It just became a whole lot easier for budding real estate investors to get a foot on the multi-family property ladder. In late November, Fannie Mae — the government-sponsored enterprise (GSE ...
November: Fannie Mae announces that the Department of Housing and Urban Development (“HUD”) will soon require it to dedicate 50% of its business to low- and moderate-income families" and its goal is to finance over $500 billion in Community Reinvestment Act related business by 2010.
While Fannie Mae is primarily a loan investor, borrowers can participate in a Fannie Mae loan program by applying for one of the loan types that it sponsors such as HomeReady, 97% LTV, REfiNow and ...
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