Fannie Mae and
Freddie Mac Changing!
In December 2011, Fannie Mae and Freddie Mac tightened up
their lending guidelines. This
affects all loans, but the biggest affects have been seen in VA loans.
What is Fannie Mae
and Freddie Mac?
Fannie Mae and Freddie Mac are "government-sponsored
enterprises" (GSEs). This means that they are privately owned, but receive
support from the Federal Government, and assume some public responsibilities.
The GSEs provide a secondary market in home mortgages,
purchasing mortgages from the lenders who originate them. They hold some of
these mortgages, and some are "securitized" -- sold in the form of
securities which the GSEs guarantee.
The two GSEs today are among the largest corporations in the world.
The two GSEs today are among the largest corporations in the world.
Contact me today for more information or to get qualified
for a mortgage!
Danielle
Hifko
New American
Mortgage
910-581-6398
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