New Policies Regarding Mortgages Announced

Date March 21, 2007

On February 27, Freddie Mac (one of the nation’s leading government-sponsored buyers of existing home mortgages) announced it will cease buying subprime mortgages that have a high likelihood of excessive payment shock and possible foreclosure. It will only buy subprime adjustable-rate mortgages (ARMs) that qualify borrowers at the fully-indexed and fully-amortizing rate. This means there [...]

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