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tammym
36 Posts |
 Posted - 05/15/2008 : 11:59:06 PM
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http://online.wsj.com/article/SB121089649942297163.html?mod=RealEstateMain_1
quote:
Fannie Mae is expected to announce Friday that it is scrapping a policy requiring higher down payments on home mortgages in areas where house prices are falling.
The change comes in response to protests from vital political allies of the government-sponsored provider of funding for mortgages, including the National Association of Realtors, the National Association of Home Builders and organizations that promote affordable housing for low-income people.
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EquitySmart
635 Posts |
Posted - 05/16/2008 : 01:22:50 AM
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| This would only be feasible if they reduced maximum LTV for EVERYONE by 5% |
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forklift
151 Posts |
Posted - 05/16/2008 : 04:55:40 AM
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Still need MI companies to do the same or lenders start offering 95% or 100% seconds again.
Got an email from Chase yesterday saying that they are getting out of seconds completely even at 80%.....which they essentially did when they went to 80%. |
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clarenceworley
3601 Posts |
Posted - 05/16/2008 : 05:24:55 AM
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| MI still has control LTV's... |
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steela
185 Posts |
Posted - 05/16/2008 : 06:21:24 AM
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| So fannie and Freddie should tell the MI companies to FO! That's how things work. Exactly how many loans have been cured via an MI claim anyway? |
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CoralSnake
10078 Posts |
Posted - 05/16/2008 : 06:25:37 AM
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| Stupid |
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forklift
151 Posts |
Posted - 05/16/2008 : 08:13:29 AM
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| Still....a good sign. Hopefully some MI companies will come around. |
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