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In a move designed to make home ownership accessible to a greater number of Americans, mortgage companies Fannie Mae and Freddie Mac will raise the limits of government-backed loans to a record ...
The U.S. government raised its mortgage limits for 2023 to just over $1 million in some of the nation’s priciest counties. Florida fell short of that cap, despite experiencing historically high ...
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.
In September 2023, there were 143,865 homes for sale in Florida, according to Redfin. That was up 3.4% from the previous year. The number of newly listed homes came in at 41,113, a gain of 12%.
Several major financial institutions collapsed in September 2008, with significant disruption in the flow of credit to businesses and consumers and the onset of a severe global recession. Government housing policies, over-regulation, failed regulation and deregulation have all been claimed as causes of the crisis, along with many others.
1968: As part of the Housing and Urban Development Act of 1968, the Government mortgage-related agency, Federal National Mortgage Association (Fannie Mae) is converted from a federal government entity to a stand-alone government sponsored enterprise (GSE) which purchases and securitizes mortgages to facilitate liquidity in the primary mortgage market.
Ginnie Mae is a government corporation within the U.S. Department of Housing and Urban Development that buys government-insured or -guaranteed mortgages typically designed to serve low- and ...
The U.S House passed a bill in early April, 2008 that would offer government insurance on $300 billion (~$417 billion in 2023) in new mortgages to refinance loans for an estimated 500,000 borrowers facing foreclosure and an additional 15 billion to affected states to buy and fix foreclosed homes.