Monday, October 20th, Melvin Watt (chief of the Federal Hosing Finance Agency) announced a program offering more reassurances to mortgage banks that fear unpredictable losses on the loans they sell to the government, and disclosed efforts to allow government-backed loans with much lower smaller down payments.
Economists are mixed as to whether loosening these mortgage rules could help the housing market.
Read The New York Times article: Federal Housing Finance Agency Unveils Plan to Loosen Rules on Mortgages.
The Marimark Mortgage Newsletter will keep you informed with important events in the mortgage industry that could impact your finances.
We especially focus on ways to save money on your current and future mortgages. And, we continually share the information we share with our clients, because we believe informed consumers are the best consumers.
Real estate agents, and other professionals in the industry, will receive an ongoing wealth of information that will help them serve their clients.
