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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.
Fannie Mae and Freddie Mac, two U.S. government-sponsored enterprises, owned or guaranteed nearly $5 trillion (c. $6.95 trillion in 2023 [283]) trillion in mortgage obligations at the time they were placed into conservatorship by the U.S. government in September 2008.
"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 FHFA announced in October 2022 plans to use two (bi-merge) instead of three (tri-merge) credit reports to determine a buyer’s effective credit score when applying for a mortgage from ...
It can be used by prospective homebuyers and real estate agents to search for Fannie Mae-owned properties that are available to be purchased. The condition of the homes available through HomePath ...