Fannie Mae Loosens Lending Standards
Isn’t the loosening of standards what caused the trouble we are in originally?
Fannie Mae has announced they are loosening the standards to try to allow more homeowners to refinance. While I personally think that this is a little nuts right now, it probably comes from from the two different points of view.
I think that housing is getting close to it’s natural recovery. Others think we are on the precipice of a total meltdown. If a meltdown of the housing inventory is what they are trying to avoid, then this stimulus from Fannie Mae makes sense.
If we are not, too much stimulation may cause even more problems down the road.
Fannie Mae will drop some credit-score requirements, reduce income-documentation standards and waive the need for appraisals in some cases, according to a notice yesterday to lenders posted on the Washington-based company’s Web site. The changes apply to loans that the company owns or guarantees. Bloomberg.com
My mom told me to put the statue in the ground, just seems wrong to me but I did it. ...
What about RE/MAX Commercial? Where this classification came from?
I am pretty sure RE/MAX Commercial in volume sales must be above ...
Well Tom, once again you have said it much better than I could have. Unfortunately the folks at Move, ...
It certainly does not bode well for a fast recovery in the economic climate. This will affect all real estate ...
I HAVE 25 YEARS EXPERIENCE IN TELECOMMUNICATIONS..HOW DO I APPLY AT KAI. 
Definitely not a fan of Move Inc.!!! 
A lot of you really need to go back to kindergarten and learn to spell correctly. If you cannot spell ...
In 2008, there was an extension to push first-time home buyers to purchase their homes quickly since the program did ...
I also need HELP and don't know what to do about my problem. I have a garden apartment off ...
I have the same situation. I sold my home in July and am scheduled to to close in a few ...
Comment by trish on 8 February 2009:
Ya know…I read this a couple of days ago too and thought the very same thing – “isn’t this what got us here in the first place?”. We are seeing signs of the market turning around in our area already. Is this something we really need to experiment again???
Comment by Esko on 8 February 2009:
The big picture objective seems to be to stem the foreclosure avalanche by allowing homeowners a bit more leeway to refinance a mortgage. Stopping foreclosures is a key element in turning around the real estate market. It would halt price erosion that is now hurting the banks to no end. And it would bring back buyers when they see that prices have stabilized.
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Comment by Albany Homes For Sale on 9 February 2009:
It seems the Feds are walking a fine line here. While I agree that loosening will help in the short term, I believe they need to be very careful to not let this get out of control again. I don’t envy our current leadership at all. Very tough decisions ahead.
Comment by Affordable Land on 11 February 2009:
You couldn’t be any closer to the truth. The Feds aren’t looking far enough into the future. Haven’t we been here before?