Sometimes government’s attempt to resolve problems unintentionally overreaches, and has an unintended impact. That is the case with a recent round of proposed rule-making from the Federal Housing Finance Agency (the regulators of Fannie, Freddie, and 12 other Federal Home Loan Banks). FHFA was trying to redress abuses by unscrupulous developers (imagine that) who were building and …READ MORE >>
Tag Archives: Freddie Mac
What does this mean for buyers? A lot.
As though today’s real estate financing market weren’t enough of a minefield, add to the mix. New regulations issued by FNMA, and soon to be enacted similar set by Freddie Mac, require lenders planning on selling loans in the secondary market to do a pre-closing credit check on borrowers before funding the loan. What does …READ MORE >>