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Fannie Mae recently incorporated the use of trended credit data as another input in the mortgage qualification process. In short, Fannie Mae is a government-sponsored enterprise (GSE) that develops mortgage programs and underwriting policies. Fannie Mae also provides capital to lenders by buying mortgages from them. Although the policies and practices used by Fannie Mae […]
As of October 1, 2016, the USDA lowered the upfront and ongoing mortgage insurance fees for the USDA Guaranteed Home Loan Program. The USDA Home Loan Program enables eligible borrowers to buy homes located in federally-designated rural areas with no down payment. The program is designed to help individuals with low-to-moderate incomes afford to buy […]
We want to highlight a new Freddie Mac mortgage program designed to extend home ownership to more borrowers. Freddie Mac, in collaboration with Alterra Home Loans and New American Funding, launched the Your Path Mortgage Program to address the growth in multi-generational households and increase in borrowers with non-traditional income sources. Similar to other low […]