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The Fannie Mae Home Purchase Sentiment Index increased 0.4 points last month to 75 points. ... though the percentage who think it’s a bad time to buy fell slightly, to 77% in November from 80% a ...
Consumers are braced for high prices — more than 40% of Fannie Mae's survey participants expect home prices to increase over the next 12 months, compared to 37% earlier this year.
The Federal Housing Administration (FHA) offers mortgages with a minimum down payment of 3.5% — but, unlike Fannie Mae, there’s a mandatory self-sufficiency test for those buying 3-4 unit ...
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 ...
The United States Housing and Economic Recovery Act of 2008 (commonly referred to as HERA) was designed primarily to address the subprime mortgage crisis.It authorized the Federal Housing Administration to guarantee up to $300 billion in new 30-year fixed rate mortgages for subprime borrowers if lenders wrote down principal loan balances to 90 percent of current appraisal value.
An FNMA loan, aka a conforming loan or Fannie Mae-backed mortgage, is a loan or mortgage that has been sold to the Federal National Mortgage Association (FNMA, or Fannie Mae) — or one that meets ...
MISMO standards are accepted and deployed by almost every entity involved in creating or regulating mortgages in the United States, including banks, credit unions, mortgage lenders, Fannie Mae, Freddie Mac, Ginnie Mae, the Federal Housing Administration and the Consumer Financial Protection Bureau, in addition to settlement services providers ...
J.D. Power released its 2024 mortgage lender customer satisfaction survey — and the results are surprising. Here are the major changes in lender satisfaction.