While legislators are struggling to find ways to stimulate the economy and save the drowning housing market, the news that stricter credit requirements and higher fees are coming down the pipe couldn’t be timed worse. Effective April 1, 2009, Fannie Mae and Freddie Mac are increasing their mandatory fees and toughening their credit score and [...]
Entries Tagged as 'FNMA'
Fannie Mae and Freddie Mac to Toughen Credit Guidelines
February 20th, 2009 · 3 Comments · Consumer Debt, Credit Bureaus and Scores, Mortgages, Real Estate
Tags: credit·credit guidelines·Fannie·FMAC·FNMA·Freddie·Mortgage Loans·mortgage qualification·Mortgages·Real Estate
“Merry Christmas”: Fannie and Freddie announce Holiday Foreclosure Suspension
November 25th, 2008 · 1 Comment · Mortgages, Real Estate
Fannie Mae and Freddie Mac recently announced that from November 26, 2008 to January 9, 2009, there will be a “stay of execution” for borrowers in jeopardy of foreclosure. In other words, they have provided an initiative to their servicer network requiring that all foreclosure and eviction proceedings shall be suspended during this time period, [...]
Tags: FMAC·FNMA·foreclosure·housing crisis·housing rescue·loan modification·mortgage crisis·rescue plan
Foreclosure Fever: Fannie Mae Increases Acceptable Elapsed Time Criteria to 5 Years
June 26th, 2008 · No Comments · Banking, Consumer Debt, Mortgages
For better or worse, FNMA keeps tightening the reins on those unlucky (not so) few that are going through the foreclosure process. They announced earlier this spring that they were increasing the time period (up a year, to 5 years) that borrowers who have been foreclosed upon would have to wait to be considered to [...]
Tags: Credit History·Fannie Mae·FNMA·foreclosure·Foreclosure Action·Mortgage Delinquency·Re-established Credit History
Buy and Bail – Buying a New Home Before Foreclosure
June 12th, 2008 · 1 Comment · Consumer Debt, Mortgages
Many people are finding out they are “upside down” on their home these days if they bought during the real estate crazy years of 2005-2006. In addition, many those are not able to afford the payments on their mortgages as interest rates rise. In the metro areas that saw the biggest [...]
Tags: Buy and Bail·Fannie Mae·FNMA·foreclosure·Mortgage·New Home·Upside Down
