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fnma: GSE Reform will make housing less affordable - 02/12/11 04:32 PM
President Obama released the expected White Paper on housing reform. It is only 32 pages and it not difficult to read. It calls for changes that are designed to reduce the government role in housing and to remove some of the federal support that has historically encouraged home ownership.
Some of the proposed changes include:
Scaling back Fannie Mae and Freddie Mae guaranteed loans by increasing loan fees, by reducing the maximum loan limits, and by increasing down payment requirements. The ultimate goal is to close both Fannie and Freddie.
Fannie Mae and Freddie Mac have recently announced fee increases. It may … (2 comments)
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fnma: FNMA in trouble? asking for more money - 05/08/09 12:51 PM
The most recent reports about Fannie Mae do not sound good. AP news writer Alan Zibel published an account of Fannie Mae's recent quarterly loss.
In the article Alan Zibel writes, "In a regulatory filing the company said "there is significant uncertainty as to our long-term financial sustainability." Even more government aid, it added, "may not be sufficient to keep us in a solvent condition."
Fannie Mae and Freddie Mac's troubles began a couple years ago when they decided to enter the Alt A and Subprime market as a large end investor. They never made these loans directly, but did make … (5 comments)
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fnma: FannieMae FreddieMac AltA Lending - 08/10/08 08:21 PM
FannieMae and FreddieMac are chartered to ensure mortgage banks have enough money to lend home buyers at low interest rates. They are supposed to ensure affordable housing, by maintaining market place liquidity.
What they have been doing though is purchasing Alt A and subprime loans. This explains the recent mounting losses that both lenders have been experiencing. The losses were inexplicable to me because FannieMae and FreddieMac guarantee conventional loans, or so I thought. The lowest risk loans - fully documented, lower LTV's, full amortization loans, best credit, MI covered loans.
Why were these two companies suffering losses?
Well, they had begun to venture … (17 comments)
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Richard Smith FHA VA Rural Development in TN GA
Chattanooga,
TN
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