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freddie mac: Freddie Mac and Fannie Mae thrown a "LIFELINE"....Finally! - 07/30/08 05:11 PM
It appears our current government will take action after all!
After mulling and procrastinating for more than a year, the Administration has decided to pass a bill worth passing.
Pres. Bush ok'd a bill designed to assist more than 400,000 homeowners and correct the market plunge. The Treasury Department will be give "carte blanche" under Sec. Paulson to assist financially strapped Freddie Mac and Fannie Mae (The largest holders of bad mortgages were in dire need of being rescued). Although many recommended letting the market correct itself, it appears a bipartisan effort with some give and take made this bill possible.
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freddie mac: Finally "Jumbo" Loans...Protected! - 03/18/08 08:20 AM
 
Recently in President Bush's new Economic Stimulus Plan, Conforming Loan limits were increased to a little under $730,000.  
Typically, the Nation's 2 largest secondary market lenders (Freddie mac and Fannie mae) set the standards for conformed loans. That limit was just above $400,000 recently. Loans above this limit were termed "Jumbo loans". These loans were deemed with a higher risk and typically higher rates. Now, the majority of these loans will be covered with "NORMAL" standards. 
This measure is hopeful to inspire Americans to purchase more, thus stimulating our economy. I will say, if you were ever going to purchase a new … (4 comments)

 

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