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fannie mae: Fannie Mae and Freddie Mac Lending - 05/04/11 05:53 PM
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fannie mae: Recently From Reuters: On Fannie Mae - 11/30/09 08:39 AM
WASHINGTON (Reuters) - Fannie Mae plans to raise minimum credit score requirements next month and limit the amount of overall debt that borrowers can carry relative to their incomes, The Washington Post reported on Thursday. Starting December 12, the automated system that the government-controlled mortgage finance company uses to approve loans will reject borrowers who have at least a 20 percent down payment but whose credit scores fall below 620 out of 850, the newspaper reported. Previously, the cut-off was 580. Also, for borrowers with a 20 percent down payment, no more than 45 percent of their gross monthly income can … (0 comments)

fannie mae: Public's Ignorance of the Facts - 10/06/08 02:33 PM
We as a nation are close to making the wrong decisions at the ballott box next month due to lack of knowledge, understanding, and in many cases just ignoring historical facts.  The recent collapse of the financial markets was not, in great part, of this administrations doing.  President Bush is far from the fiscal conservative that Ronald Reagan was, but he is not to blame for the failing of Fannie Mae and Freddie Mac.  Both have been overseen by the Democrats since their inception.  But President Bush did call for a tightening oversight of Fannie Mae and Freddie Mac his first … (0 comments)

fannie mae: Fannie Mae / Freddie Mac takeover affect on rates - 09/11/08 10:08 AM
The government bailout of Fannie and Freddie had a great impact on Conforming Fixed rates today.  Conforming Fixed Rates dropped by .25 to .5 depending on the loan size and type of loan quoted.  Many experts are predicting they will continue to drop in the next few weeks.  This is great news for well qualified clients wanting fixed rate loans of $417,000 or less.
 The tightening of guidelines is expected to continue however.  So although rates are great, prospective buyers will pass an even higher bar of standards to qualify. 
 This improvement on the fixed rate loans had no effect on … (0 comments)

fannie mae: Freddie Mac - Fannie Mae Bail-out? - 07/16/08 03:57 PM
There are a lot of mixed feelings at present about the Feds decision to standbehind the two largest mortgage holders in the secondary market.  Secondary market refers to the business entities which purchase mortgage paper from primary lenders, like your bank.  Purchasing these mortgages, usually bundled, from your bank, frees up capital for the banks to continue making loans in their local marketswithout carrying that paper for 15 to 30 years and overburdening that portfolio.  Fannie Mae, begun by FDR was the first, and Freddie Mac the second of the government sponsored lenders, though set up as private enterprises.
 No one … (0 comments)

 
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Dean Davidson ABR/CSP

Charlotte, NC

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Keller Williams Realty

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