Mortgage Standards Set to Loosen
In what could potentially be a major catalyst for the housing market, new guidelines – meant to provide greater clarity as to when Fannie Mae and Freddie Mac can force buybacks of mortgages sold to them by lenders – are set to take effect December 1st. It is anticipated that the new guidelines will have the effect of extending the availability of mortgage financing to some consumers with credit scores that have kept them out of the market over the past few years as well as streamlining the mortgage application process.
About author
You might also like
Headwinds at Home Causing Pause in Chinese Buying
This past year, Chinese buyers overtook Canadian buyers as the top foreign purchasers of US real estates with expenditures of $28.6 billion. The influence has been felt disproportionately at the
Status of Recovery?
In this snapshot of where we are on the road towards a “normalized” housing market, Trulia chief economist Jed Kolko examines five key factors that impact the market. Bottom line
