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  2. Conforming loan - Wikipedia

    en.wikipedia.org/wiki/Conforming_loan

    The new Jumbo-Conforming program was adopted by Fannie Mae and Freddie Mac effective from April 1, 2008 until December 31, 2010. [6] The bill was signed into law by President Bush on February 13, 2008, [7] but the new rates were not being honored by any lenders (as of March 30, 2015).

  3. Mortgage underwriting in the United States - Wikipedia

    en.wikipedia.org/wiki/Mortgage_underwriting_in...

    Fannie Mae and Freddie Mac are the two largest companies that purchase mortgages from other lenders in the United States. Many lenders will underwrite their files according to their guidelines, but to ensure the eligibility to be purchased by Fannie Mae and Freddie Mac, underwriters will utilize what is called automated underwriting. This is a ...

  4. Understanding the mortgage underwriting process - AOL

    www.aol.com/finance/understanding-mortgage...

    For instance, Fannie Mae’s conventional loan guidelines for fixed-rate mortgages dictate that borrowers have a maximum 97 percent loan-to-value (LTV) ratio (meaning they make at least a 3 ...

  5. What is a jumbo loan and when do you need one?

    www.aol.com/finance/jumbo-loan-one-133806802.html

    Most loans are conforming loans, meaning they conform to, or follow, specific criteria followed by mortgage guarantors Fannie Mae and Freddie Mac, the government-sponsored enterprises that buy ...

  6. Fannie Mae - Wikipedia

    en.wikipedia.org/wiki/Fannie_Mae

    In addition, Fannie MBS, like those of Freddie Mac MBS and Ginnie Mae MBS, are eligible to be traded in the "to-be-announced" or "TBA" market. [62] By purchasing the mortgages, Fannie Mae and Freddie Mac provide banks and other financial institutions with fresh money to make new loans. This gives the United States housing and credit markets ...

  7. Fannie Mae vs. Freddie Mac: What’s the difference? - AOL

    www.aol.com/finance/fannie-mae-vs-freddie-mac...

    As of 2023, Fannie Mae and Freddie Mac support around 70 percent of the mortgage market, according to the National Association of Realtors. That means the majority of conventional loans, those ...

  8. Mortgage industry of the United States - Wikipedia

    en.wikipedia.org/wiki/Mortgage_industry_of_the...

    Over the past several years, use of "automated underwriting" statistical models has reduced the amount of documentation required from many borrowers. Such automated underwriting engines include Freddie Mac's "Loan Product Advisor" (fka "Loan Prospector") and Fannie Mae's "Desktop Underwriter". For borrowers who have excellent credit and very ...

  9. Why was my mortgage application denied? Common reasons ... - AOL

    www.aol.com/finance/why-mortgage-application...

    Fannie Mae and Freddie Mac are government-sponsored enterprises that make a market in mortgages: Between them, they buy or back about two-thirds of all U.S. home loans.. These systems don’t ...