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Many condominium associations in Florida and across the country have been surprised to learn in recent months that their buildings have been blacklisted by the government-sponsored Fannie Mae ...
The Miami Herald reported in December mortgage lenders Fannie Mae and Freddie Mac maintain a list of condominiums unapproved for the acquisition of loans. ... they become ineligible and work with ...
The government assumed control of the bank's £50 billion mortgage and loan portfolio, while its deposit and branch network were sold to Spain's Banco Santander. [17] In October 2008, the Australian government made A$4 billion available to nonbank lenders unable to issue new loans.
"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 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.
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 ...
In August 2007, Committee announced that "downside risks to growth have increased appreciably," a signal that interest rate cuts might be forthcoming. [4] Between 18 September 2007 and 30 April 2008, the target for the Federal funds rate was lowered from 5.25% to 2% and the discount rate was lowered from 5.75% to 2.25%, through six separate actions.
In a move designed to make home ownership accessible to a greater number of Americans, mortgage companies Fannie Mae and Freddie Mac will raise the limits of government-backed loans to a record ...