The Federal Housing Finance Agency has a hand in the Biden Administration’s housing plan and should benefit multifamily borrowers. As director of government-sponsored businesses, he will oversee Fannie Mae and Freddie Mac’s actions to strengthen tenant protections, the White House fact sheet on the plan mentioned. “As part of our work on the White House … Read more
It’s only been six times in seven months in October for the Fannie Mae and Freddie Mac loan sponsorsbut there are signs of borrower distress from the beginning. Completed foreclosure actions on loans held by the government to support development decreased 10% to 18,833 in October from 20,885 the month before, according to the Federal … Read more
The drop in rates for some LTVs seems to reflect the fact that high-income borrowers often can’t afford large down payments and can have low credit scores because they have more late enough when their finances are in trouble. The mortgage industry and the GSEs have increased fees for these loans since low credit scores … Read more
The Mortgage Standards Association has approved a software application model that allows users to search for mortgage loan eligibility criteria by based on zip code and county name. This standard is called the FIPS Code Lending Limit API Specification. FIPS is short for Federal Information Processing System, a five-digit number that identifies federal and provincial … Read more
The Federal Housing Finance Agency is making changes to the cost of home loans sold by Fannie Mae and Freddie Mac. Separately, they are putting down a fee for joint mortgage bonds. Pre-determined price changes are now organized in new matrixes with three basic series divided for purchase, refinancing rates, and refinancing loans, again classified … Read more