Stop saying we’re going to require everyone to put 20 percent down on a house. the Great Depression. Fannie Mae and Freddie Mac, the largest sources of home lending in the U.S., are dependent on.
So another thing that happened while I was out of town was that Fannie Mae decided to get tough on "strategic defaulters"–people who default not because they can’t make their mortgage payments.
REO-to-rental market quickly becoming asset class FHA Preps Tax Credit for Down Payment Use The process of applying the tax credit toward down payment, called ‘monetization’ in the industry, allows for FHA-qualified borrowers to use the tax credit to obtain a government-insured mortgage.
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“Within the mortgage business, no one is thinking that strategic default is explainable,” Gaskin added. Fannie Mae, for example. believed to be strategic dropped to 30% in March, down from 37% in.
Fannie Mae lashes out at strategic defaulters Posted on June 26, 2010 by Stout Law Firm Fannie Mae is sifting through borrower data to determine who is strategically defaulting and who is not after announcing more efforts this week to crack down on those who walk away from their homes. Cracking Down on Strategic Defaulters by.
Susan A: Starting in October, strategic defaulters will be disqualified for new Fannie Mae-backed loans for seven years after. walking away means you can move to another area without being tied.
Fannie Mae cracks down on borrowers. Updated Jun 23, 2010, 3:23pm EDT. Fannie Mae is boosting penalties for strategic defaulters by prohibiting them from getting a mortgage, backed by the.
California housing market slows on TRID implementation Sunworks assumes no obligation to update these projections in the future as market and business. for low income multi-tenant housing projects which qualify for California state grants..