Oxymoron-Quality-Loan-Defects
Mortgage Loan Quality

“Quality Loans with some Defects” Alternatives to Repurchases being considered by the GSE’s

Both Fannie Mae and Freddie Mac reported in December that they are considering offering lenders alternatives to repurchase requests for loans that have documented defects but are still considered to be of good quality. I enjoy a good oxymoron. These are some of my favorites: “jumbo shrimp”, “serious joke”, “virtual reality”, “small crowd”, “random order”, “student teacher” and “act naturally”.…

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Risky-Business-FHA-Fannie-Mae-Freddie-Mac
Uncategorized

Warning: Agencies Purchase Risky Business

The FHA premium cut and agency low down payment loans were intended to increase homeownership among first-time and low to moderate income home buyers. It hasn’t worked so far. The premium cut tends to have just redirected borrowers from traditional conventional loan programs into an FHA-insured loan. Also, those who recently closed using FHA insured loans refinanced those same loans…

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