freddie mac: The Fannie Mae/Freddie Mac Controversy
- 07/17/08 12:56 AM
There has been a lot of talk the past week and a half on Wall Street and through the United States Government about "solvency" issues that Fannie Mae- the Federal National Mortgage Association- and Freddie Mac may be experiencing, the "what if's" were they to collapse without the Government "bailing them out" and the impact it would pose on the existing status of our economy and housing market. But before we go into those topics.... Who are Fannie Mae and Freddie Mac? According to the "About Us" page of Fannie Mae's website, "Fannie Mae was created in 1938, under President … (9 comments)
freddie mac: The "Liquidity Crisis", "Economic Stimulus Package" and my "Sleeping Tiger" Theories!
- 03/07/08 07:45 AM
What is the "liquidity crisis" and why does it exist? Across most of the country, Fannie and Freddie currently purchase loans of $417,000 or less from lenders, and repackage these so-called "conforming" mortgages into securities sold to investors. Investors generally trust that these securities will be repaid, in part because they are backed by the government-sponsored entities, so there's been little interruption in consumers' ability to obtain conforming loans at low rates. Until the Economic Stimulus Package was signed into law, loan amounts over $417,000 were typically held onto as "portfolio loans" by banks or sold off as mortgage backed securities to … (4 comments)
freddie mac: Conforming Loan Limit to $725,000 For California?
- 01/25/08 09:38 AM
I can't stress the importance of increasing the Conforming Loan Limits in high cost areas, such as California. Below is a letter to California Association of REALTORS® members, on behalf of it's President, William E. Brown. Please get the word out there on the importance of this matter, as it will help the California housing market recover much faster! As rates are in the 7% range on Non-Conforming loans right now, all of those homeowers in adjustable rate mortgages would be able to refinance into a Conforming loan amount in the 5-6% range! Let your voicees be heard! Scott Gormley Broker/Owner Oak Valley Mortgage Direct: 530-592-8362 Email: Scott@OakValleyMortgage.com Here's the letter: Dear C.A.R. Member: Congressional leaders and … (3 comments)
;)
;)
