New Rules Set By Freddie Mac

Date April 26, 2007

Beginning in September, Freddie Mac will change its policies regarding the purchase of subprime adjustable-rate mortgages. From that point, loans with little down and very small payments up-front will undergo much tougher guidelines. It will not buy subprime loans unless the borrower is qualified to pay for the loan at its fully-indexed and fully-amortized rate, [...]

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