freddie mac: FMAC, FNMA, QRM...OMG! - 07/24/11 09:32 AM
In my recent newsletter, I wrote about the proposed shoring up of FMAC and FNMA (Freddie Mac and Fannie Mae) by politicians in Washington. These are basicaly the two agencies that insure home loans. This “shoring up” process will start this coming September 30thwith a measure that will result in borrowers being required to pay increased interest rates for loans over $625k.
The issue that's getting the most attention in the news, though, is the Qualified Residential Mortgage (QRM) proposal that will require a 20% minimum down payment on ALL real estate purchases. Of course, there will be exceptions, but they're … (3 comments)

Ann Stefanucci (First Team Real Estate Inc.)

Ann Stefanucci

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