Mel Watt, Director of the FHFA, has released his prepared remarks for the National Association of Realtors Conference. In his remarks, he addresses the lower down payment options that should be available soon with conforming mortgages and that they will require compensating factors.
Reduced Down Payment Conventional Loans may require Compensating Factors
November 7, 2014 by 1 Comment
Conforming Mortgages set to Reduce Minimum Down Payment
October 22, 2014 by Leave a Comment
At the MBA Annual Convention this week, Mel Watt, Director of the FHFA announced that Fannie Mae and Freddie Mac will be reducing the minimum down payment.
“To increase access for creditworthy but lower-wealth borrowers, FHFA is also working with the Enterprises to develop sensible and responsible guidelines for mortgages with loan-to-value ratios between 95 and 97 percent. [Read more…]
What May Impact Mortgage Rates this Week: December 23, 2014
December 23, 2013 by Leave a Comment
Happy Holidays! With this being a short week due to Christmas, we may see a bit more volatility with mortgage rates with many traders taking time off for the holidays. Markets will be closing early on Tuesday for Christmas Eve and will be closed all day Wednesday. Here are some of the economic indicators scheduled to be released this week:
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