credit standards: Fannie, Freddie Told to Ease Credit Standards
- 01/19/15 07:01 AM
Last week it was reported by REUTERS that Mel Watt, Director of the Federal Housing Finance Agency ("FHFA") has instructed Fannie Mae and Freddie Mac to "explore 'alternate' credit score models and the credit history of the loans they support". Watt has stated that expanding credit availability is an important goal, but also indicated that it must be balanced against the risks associated with loan losses. As you will recall, Fannie and Freddie have both introduced 97% LTV loan products. They are going to be pursuing other means to make financing available to more home buyers. Among other things, FHFA wants … (11 comments)
Related Links:
Randy Kirsch
(NMLS# 1012303) Your Dedicated Mortgage Consultant
Last week it was reported by REUTERS that Mel Watt, Director of the Federal Housing Finance Agency ("FHFA") has instructed Fannie Mae and Freddie Mac to "explore 'alternate' credit score models and the credit history of the loans they support". Watt has stated that expanding credit availability is an important goal, but also indicated that it must be balanced against the risks associated with loan losses.
;)
;)
