freddie mac: First Time Home Buyers with Student Loan Debt
- 11/01/17 08:05 AM
There are some new guidelines coming in January for First Time Home Buyers with Student Loan Debt. In January of 2018 Freddie Mac will begin requiring us to count either your Student Loan payment, OR .5% of the balance, which ever is higher This is a change from the current guideline that allows us to consider the payment that is reported to the Credit Bureau. We haven’t been able to count a $0 payment, but if you were on an IBR schedule with a payment of $21 on a $22,000 loan, we could count the $21 in your debt to income calculation. … (1 comments)
freddie mac: Mortgage giants Fannie Mae and Freddie Mac on death row?
- 01/25/10 11:14 PM
This is a subject I follow pretty closely because it will be the NEXT change for lending. The REAL question IMHO is what will set the course going forward? If we do away with Fannie and Freddie - fine... But what will we use to "measure" that a loan in Las Vegas is the same quality as a loan in North Carolina? Because without that "measure of quality" why would an Investor purchase the MBS paper?
House honcho Barney Frank feels that it's time to let these two GSEs, the home loan superstars that have for a long time dominated … (0 comments)
freddie mac: Bernanke Makes Underwriting Changes
- 07/14/08 06:41 AM
Can we talk? Look, today there's BIG BIG news going on. BIG NEWS. Fannie and Freddie and Lehman and IndyMac and WaMu and National City - it's the biggest day for financial information and financial stocks we've had in a loooong time. But there's MORE big news... and FRANKLY... there's a ton of WHINING going on with that news. July 14 (Bloomberg) -- The Federal Reserve tightened its mortgage rules by requiring lenders to determine a borrower's ability to repay and barring other practices that led to the collapse of the U.S. housing market. The Fed Board of Governors voted in Washington … (10 comments)
freddie mac: Does Wake County Care if Fannie Belly Flops??
- 07/11/08 06:54 AM
Secretary Paulson and Bernanke followed each other speaking on Capitol Hill. In his prepared speech to the House Financial Services Committee, Sec. Paulson made these comments about Fannie Mae (FNMA) and Freddie Mac (FHLMC)... "Their regulator has made clear that they are adequately capitalized." Paulson said the two government sponsored enterprises are "working through a challenging period." Yeah, I can see where losing 70% of your stocks value this year would be challenging! But if you don't own STOCK in Fannie and Freddie - does it really matter to the average citizen in Wake County? I would argue that it does. Since the … (2 comments)
There are some new guidelines coming in January for First Time Home Buyers with Student Loan Debt. In January of 2018 Freddie Mac will begin requiring us to count either your Student Loan payment, OR .5% of the balance, which ever is higher This is a change from the current guideline that allows us to consider the payment that is reported to the Credit Bureau. We haven’t been able to count a $0 payment, but if you were on an IBR schedule with a payment of $21 on a $22,000 loan, we could count the $21 in your debt to income calculation. … (1 comments)
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