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Indianapolis Mortgage Rules Could Ease — if the Rumors Hold!
The financial press has been on it for a while: in September, Bloomberg News was pointing out that FHA mortgages to borrowers with weaker credit scores had plummeted 19% in the previous nine months. Something, you could sense, was about to give—but, per Bloomberg, “Washington regulators and major banks continue to haggle…”
True, home prices were up, which put a smile on Indianapolis homeowners’ faces. Yet the number of sales was less than overpowering. In reaction to the housing bust, regulators had tightened the screws on mortgage lenders, causing them to raise requirements for borrowers—Fishers mortgage applicants included. So although the price rises were encouraging, the difficulty in getting mortgages became a drag on the number of home sales.
Now the latest rumbles could be potentially breakout news for Indianapolis homeowners and investors—indeed, for anybody with an inkling to sell a Fishers home. It’s not a done deal, but last Saturday we got more than a hint of what’s likely to come. Lead rumor-monger: The Wall Street Journal.
“Mortgage Giants Set to Loosen Lending” was the front page headline. Fannie Mae and Freddie Mac were the giants: the two mortgage titans are essentially creatures of the federal government, regulated by ... more
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