To protect 30-year, fixed-rate mortgages, Fannie Mae and Freddie Mac should be given new charters that turn them into utilities with private shareholders and federal backing for catastrophic losses, NAR says. The association's proposal was introduced at a policy forum it hosted in early February. Also, using automated texts as part of your marketing could violate do-not-call laws. ### If you have...
During the recent holiday break a number of members contacted NAR concerning a video they had been sent regarding changes coming to appraisals conducted for Fannie Mae transactions. The video was sent by email and usually contains the subject line “Appraisal Time Bomb.” Many of state and local association partners have received member inquiries about the video. At the end of...
Mortgage giants Fannie Mae and Freddie Mac have launched a program called Home Possible Advantage, a conventional mortgage with 3 percent down-payment requirement designed for low-and moderate-income borrowers. The program is expected to expand credit for qualified home buyers who may have been priced out of the market due to higher down-payment requirements. Home Possible Advantage is a conforming conventional mortgage...
The housing market is starting to show some improvement after a slow start to the year, but home sales likely will still likely be shy of 2013 numbers, according to Fannie Mae’s June 2014 Economic Outlook, released this week. "Home price improvements have contributed to consumers’ household wealth, but overall growth in the housing market pulled back in the first quarter, with major...