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Monday, September 9, 2013
Loan Size to Be Cut for Fannie, Freddie
The Federal Housing Finance Agency (FHFA) is planning to reduce the maximum size of home-mortgage loans eligible for backing by Fannie Mae and Freddie Mac, which the agency regulates. The proposed move to cap loans -- FHFA has not yet announced how far it will lower the loan limits, which take effect Jan. 1, 2014 -- is intended to wean the mortgage market off federal support and let the market for non-government-guaranteed mortgages assume a larger role. But critics argue that any such move will shrink the pool of eligible home buyers, thus curbing the country's housing recovery.
From "Loan Size to Be Cut for Fannie, Freddie"
Wall Street Journal (09/08/13) Timiraos, Nick
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