fannie mae: Fannie & Freddie to Delist from NYSE - From Your Orange County Loan Officer
- 06/16/10 03:01 AM
Fannie and Freddie are government backed entities that keep mortgages moving, allowing homeowners to purchase homes. The plans are to delist their shares from the New York Stock Exchange. The companies' regulator, the Federal Housing Finance Agency, said Wednesday that it expects Fannie Mae and Freddie Mac shares to trade on the Over-the-Counter Bulletin Board. Fannie, Freddie, VA, and FHA have backed almost 97% of home mortgages this year. In the past it was the folks on Wall Street that hedged their beats but pulled out of the market years ago when they did not have enough liquidity to support the asset. … (5 comments)
Today Fannie Mae announced the decision to shorten the time a borrower has to wait before they can qualify for a mortgage after a short sale or foreclosure. These new guidelines come a week after the government’s Home Affordable Foreclosure Alternatives (HAFA) program hit the market, and Fannie Mae hopes the new guidelines and HAFA program will work together in an effort to get borrowers back in homes as soon as possible. Normally, borrowers are required to wait four years after a foreclosure before they can apply for a mortgage again, and at least two years after a deed … (7 comments)
fannie mae: Struggling Homeowners Considering Strategic Defaults
- 04/07/10 03:50 AM
Many homeowners whose loans are underwater have considered strategically defaulting on their homes. Of course, underwater loans are when a borrower owes more on their loan than their home is worth. This means that many of these homeowners are discouraged and don’t see the point in continuing to pay for a loan that is far greater than the value of their homes. In a report by Fannie Mae, numbers show that homeowners are more likely to consider a strategic default if they know someone who has already walked away from their home. Is this so hard to believe when you … (4 comments)
fannie mae: Fannie Mae Expects Fewer Mortgages for 2010
- 03/18/10 01:59 PM
Due to an increased trend towards fewer home sales since the new year, Fannie Mae has projected far fewer home sales for the 2010 year. According to Fannie Mae, they expect mortgage originations to dip by as much as $660 billion from 2009’s $1.97 trillion in mortgage originations. That’s a huge drop folks. Fannie Mae says the drop in home sales has been a slower than expected growth in the economy, which can largely be attributed to the 10% unemployment rate. New home sales dropped 11.2% from January to February and are expected to be the same or lower this month. … (4 comments)
fannie mae: Federal Refinance Program Gets a One Year Extension
- 03/04/10 05:49 AM
The federal refinance program Home Affordable Refinance Program (HARP) designed to help borrowers with high loan to value ratio mortgages has received a one-year extension, now set to expire June 30, 2011. The program was originally introduced February 2009, and has come to cover loans backed by Freddie Mac and Fannie Mae with loan to value ratios up to 125%. The program was designed to help qualified home owners with underwater loans refinance their deals in order to avoid foreclosure or short sales. According to the Federal Housing Finance Agency (FHFA), about 5 million homes would qualify for refinances under … (3 comments)
Fannie and Freddie are government backed entities that keep mortgages moving, allowing homeowners to purchase homes. The plans are to delist their shares from the New York Stock Exchange.
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