fannie
The Fallout From the Fannie Mae, Freddie Mac Takeover
So it has been a week since the feds came in and took over Freddie Mac and Fannie Mae. While it will obviously take some time to know the long term repercussions I wanted to look at some of the immediate reactions to the move.
First let’s look at the reaction from the media and [...]
How Does Fannie Mae Work?
In 1938, Fannie Mae was established by the US Government to promote the growth of home ownership by providing a secondary mortgage market. What is a secondary mortgage market? Well, the secondary mortgage market exists in the buying and selling of a mortgage from one lender to another.
The bank, or Mortgage Company that [...]
Fannie Mae and Freddie Mac Adopt New Appraisal Standards
So here’s some interesting news, dear readers. News that will absolutely piss off most mortgage brokers. New York Attorney General Andrew M. Cuomo, with just a simple threat of a lawsuit, got Freddie Mac and Fannie Mae to agree to never again purchase a single loan from lenders that refuse to meet new [...]
Fannie Mae and Freddie Mac are Finding Help
In an effort to find more and more assistance with the current real estate problems, Freddie Mac and Fannie Mae are in talks with the Treasury, White House officials and the Federal Reserve. In essence, both Freddie Mac and Fannie Mae are looking for ways to give additional financing for the struggling mortgage companies whose [...]
Mortgage Interest Rates Move Down Slightly And The Impending Takeover of Freddie Mac and Fannie Mae
Mortgage interest rates moved down slightly this week. This was a good sign since it was not preceded by any rate cuts from the FED. The 30 year mortgage rate fell from 6.52 to 6.47 and the 15 year mortgage rate fell from 6.07 to 6.00. For arms the 5 year rate [...]
Mortgage Interest Rates Plummet after Fannie Mae/Freddie Mac Takeover
I have been tracking mortgage interest rates for the last few months. Its always more interesting when there are drastic changes. This week we saw some of the largest changes we have seen this year. This is of course in response to the Fannie Mae and Freddie Mac takeover. The 30 [...]