Search results
Results from the WOW.Com Content Network
Consumer advocates said that a ruling supporting Ms. Eaton would ensure due process for homeowners." The Obama administration's Federal Housing Finance Agency filed an amicus brief opposed to a retroactive requirement of unity of note and mortgage because it was purportedly a "direct threat to orderly operation of the mortgage market." [1]
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.
Fannie Mae and Freddie Mac, the two government-sponsored enterprises that underpin the U.S. mortgage market, have been under federal conservatorship since 2008. A renewed effort to take them ...
Today, Ginnie Mae securities are the only mortgage-backed securities that are backed by the "full faith and credit" guaranty of the United States Federal Government, although some have argued that Fannie Mae and Freddie Mac securities are de facto or "effective" beneficiaries of this guarantee after the Federal Government rescued them from ...
While a few programs exist at the federal level and even with some individual mortgage lenders, most down payment help is offered at the local level through state, county and city government ...
Federal first-time homebuyer programs: Loans and programs backed or offered by the federal government State, non-profit and employer-sponsored programs: Homebuying assistance at the local level
In 2003, the Bush Administration sought to create a new agency, replacing the Office of Federal Housing Enterprise Oversight, to oversee Fannie Mae and Freddie Mac.In 1992, in the wake of the savings and loan crisis, and over concern that similar lending problems would develop, the Office of Federal Housing Enterprise Oversight was created as part of the Department of Housing and Urban ...
Fannie Mae, officially the Federal National Mortgage Association (FNMA), is a government-sponsored enterprise that maintains liquidity in the mortgage market by buying loans from banks and ...