Lenders give Mixed Reviews to new GSE, FHA Initiatives, Homeowner Education

By Jann Swanson

Posted To: MND NewsWire

Lenders appear at least moderately encouraged by new efforts on the part of Fannie Mae and FHA to lower the costs and increase the availability of mortgage financing. Fannie Mae’s most recent quarterly Mortgage Lender Sentiment Survey, conducted in February found about 2/3s of lenders thought the initiatives would be beneficial. Fannie Mae introduced a new 97 percent home mortgage late last year and a similar program was unveiled by Freddie Mac starting this month. In January FHA reduced its annual mortgage insurance premiums ( MIP ) by 0.5 percent on new loans. Fannie Mae’s Economic & Strategic Research Group surveyed senior mortgage executives in February to examine lenders’ views about the expected impact of these initiatives. Lenders had earlier told Fannie Mae that the top two causes…(read more)

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