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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 ...
According to a recent announcement by the Federal Housing Finance Agency, which controls the two government-sponsored enterprises, Freddie Mac will also implement enhancements later this year and ...
The Trust funds programs for first or second mortgages, property acquisition for affordable housing cooperatives, or new construction. However, new construction cannot comprise more than 50% of each year's funding allocations. At least 50% of funding must benefit low-income families rather than moderate-income. [36]
The program can reduce payments by up to 20 percent and move past-due payments to your principal balance instead of making it due upfront. The Flex Modification program makes your loan current ...
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]
Fannie Mae's new refinance program "RefiNow" is scheduled to launch June 5, available for qualifying homeowners with a Fannie Mae-owned mortgage. Low-income households could potentially save ...
Fannie Mae, which was originally restricted to purchasing Federal Housing Administration and Veterans Administration (VA) mortgages (Fannie Mae was permitted to deal in conventional mortgages in 1970), and; Ginnie Mae, formerly the Government National Mortgage Association, which originally only provided insurance for bonds issued by FHA and VA ...