mortgage insurance: Declining Markets
- 07/11/08 04:15 AM
Fannie Mae recently revised their declining markets policy. In a nutshell, their terms are: Maximum 97% Loan to Value (LTV) on conventional/conforming loans regardless of the market with their proprietary Desktop Underwriter (DU)/Automated Approval, and 95% LTV maximum financing if the loan is underwritten outside of DU (manually). You can see this here: Download the latest word on Fannie Mae's declining market policy The issue is that while this is their latest word, it is not the last word. One of the underlying issues that consumers don't understand is that when you take out a loan with a loan-to-value greater than 80%, … (13 comments)
Generally speaking this blog will deal with mortgages and the mortgage market. As I am in Florida and only originate mortgages in Florida, that will be the main topic discussed.
Fannie Mae recently revised their declining markets policy. In a nutshell, their terms are:;)
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