February 08, 2009
We're at the bottom of the hole, dig faster!
Feb. 5 (Bloomberg) – Fannie Mae, the mortgage-finance company under
U.S. government control, will loosen rules for homeowners seeking to
lower their loan payments by refinancing.
Fannie Mae will drop some credit-score requirements, reduce income-documentation standards and waive the need for appraisals in some cases, according to a notice yesterday to lenders posted on the Washington-based company’s Web site. The changes apply to loans that the company owns or guarantees.
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Lowering credit standards is what caused the collapse of the credit markets to begin with.
Face Facts:
Some People Don't Deserve Credit.
Some People Will Not Pay Their Debts.
Some People Have No Idea How To Budget.
We need to return to the day, when buying your first home was a huge achievement because it was so difficult to qualify for the mortgage.
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Fannie Mae will drop some credit-score requirements, reduce income-documentation standards and waive the need for appraisals in some cases, according to a notice yesterday to lenders posted on the Washington-based company’s Web site. The changes apply to loans that the company owns or guarantees.
****
Lowering credit standards is what caused the collapse of the credit markets to begin with.
Face Facts:
Some People Don't Deserve Credit.
Some People Will Not Pay Their Debts.
Some People Have No Idea How To Budget.
We need to return to the day, when buying your first home was a huge achievement because it was so difficult to qualify for the mortgage.
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Posted by: outlet at December 19, 2012 11:41 AM (QVO80)
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