fannie mae: Fannie Mae's 7.0 - Heading In The Wrong Direction!
- 06/12/08 06:36 AM
As you've probably heard, Fannie Mae's new automated underwriting program has recently been introduced and it's main feature is that it has gotten tougher in it's underwriting of mortgages. Personally, I think that Fannie Mae is off base with this. True, the downturn in the real estate markets have added another dimension of risk to Fannie Mae's investment options, but I think that they need to remember that it wasn't the conforming Fannie Mae/Freddie Mac programs that got us into trouble here! Even the higher LTV and Level approval loans that the old DU system was approving weren't the problem. This … (6 comments)
Mortgage Broker Vs Mortgage Banker Vs Bank. Which should you use for your real estate financing? Is one better than another? The answer to the first question above, "Which should you use for your real estate financing" is, "It depends!" The answer to the second question, Is one better than the other?, is, "yes". Does that clear things up? If it doesn't you're not alone. A lot of people, including a good number of real estate professionals don't actually have a firm grasp on exactly how the mortgage banking industry is structured. This and some comments on various blogs that were disparaging to mortgage … (6 comments)
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R. B. "Bob" Mitchell - Loan Officer Raleigh/Durham
A Blog about real estate and real estate finance by Bob Mitchell who has been in the business since 1984 and who comes at the business from a different angle.
As you've probably heard, Fannie Mae's new automated underwriting program has recently been introduced and it's main feature is that it has gotten tougher in it's underwriting of mortgages.
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