By Rob Chrisman
Posted To: Pipeline Press
Since inflation doesn’t exist much anymore in the economy, how about in your garage ? Detroit has plenty of empty garages and so the city announced a new 0% down program to give the market a shot in the arm – who needs a down payment assistance program when there is no down payment? Yes, balancing borrower and lender demands is never easy, and when you throw the government into the mix things can get dicey. A CEO of a large lender wrote to me this week. “Rob, if I promote a new president, does Fannie Mae have to approve of her?” Good question. Fannie put out a change that the big lenders are rumored to be subjecting to legal reviews. Is Fannie putting itself in the position of needing to approve a new president of Citi or Chase? Certainly some changes impact counterparty risk – but ask your…(read more)
Via:: Agency Updates – Does Fannie Really Need to Approve Lender Management Changes?
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