36 Burst results for "fannie mae"

Economic Fallout From COVID-19 Is Hard On Landlords Too

NPR's Business Story of the Day

05:57 min | 2 months ago

Economic Fallout From COVID-19 Is Hard On Landlords Too

"Explored the uncertainty from a lot of different perspectives and nothing can feel more destabilizing. The Not knowing if you're going to be able to make your rent next month we've heard on this show about how much renters who've lost income from the current crisis are struggling today. We're going to hear from the other side of that relationship. The landlord my name is Marilyn. Jim I am a small mom and pop landlord in Seattle with my husband We live in a triplex with our children and our tenants. Our House was built as a single family home in nineteen twelve by an Irish immigrant. Who had eighteen children and so? It's a good sized home sometime. In the past it was divided into a triplex. They both have day jobs but they rely on the rental income they get from several properties around the city. You know my husband will be the guy who's pushing the lawnmower so our tenants know us get to know us very well. They see us. They know that our family lives here. And and You know it's it's very much a personal up close up front relationship but that relationship has taken on a new sense of gravity since the financial crisis triggered by the pandemic all. Her tenants paid late in April and then in. May One of her tenants couldn't come up with the money at all. We came to the table with some ideas of what we could do to help. Meet them in the middle and we've come up with a plan that will take us through the next two months and then we're going to check in again in June and reassess but you know my husband and I have also had the conversation of ultimately. How long is this going to last? How long can we last? They're worried because they don't have a lot of extra money on reserve to float their mortgages if their tenants can't pay. We're not hoarding money here. And so we don't have a large cushion to tap into to get through something like this or mortgage lender is only allowing three months of forbearance and they want full repayment. At the end of free months it's hard for us to think. How are we going to get through if Are Tenants get to the point? Where there are no longer able to pay. Npr correspondent. Chris. Arnold has been looking into the dilemma that Maryland yet and many small landlords find themselves in right now and he joins us. Hey Chris Rachel so what stood out to you in Maryland Story. Will I think a lot of people are in the situation? And th there's all kinds of landlords out there and I think people tend to think about landlords is like big mean faceless corporations or you know as people rubbing their hands together wanting the money but there's just a lot of mom and POPs who were regular people and they wanna keep good tenants and they want to help them but they do depend upon this rental income right because they're not be corporations. They got bills to pay to like their mortgage and Congress mandated help for homeowners and that includes small landlords like Maryland. Were in exactly the situation and so when you play the interview for me. The the big red blinking alarm light that I heard in it was. She said that her lender told her that if she skipped payments she have to pay them all back in just a few months in this giant lump sum doesn't make any sense in this crisis in this kind of big balloon. Payment thing is is absolutely not the way that this is supposed to work. Okay so how is it supposed to work but good question So we should say that this is four home loans that our government back so by Fannie Mae or Freddie Mac and a lot of people don't even realize that their home mortgages backed by the government and somebody but seventy five percent of all homeless in the country are and so as Maryland's I checked and experts at. I've talked to say that for the vast majority of people who were struggling financially in this outbreak for them the rules say that they should make payments again when they're able to and it should be the same monthly payment their payments should not go up no big crazy. Lump sum payments should just get moved to the back and of the loan term. Okay so if it's a thirty year loan now. It's a thirty year loan plus say six months of missed payments on the back end. If these are the rules Chris Wise Maryland hearing something different and can Marilyn just push back yes she absolutely can and I've talked to borrowers who have done that. And sometimes they get a much better answer. And here's what's been going on. And after a lot of initial confusion. The Mortgage Bankers Association says that the companies are dealing with this much. Better this better information out there but the current system has a complicated set of rules and it relies on on lenders. Who've got like call center workers working from home they have to interpret this complicated set of rules properly and borrowers are sort of at the mercy of their lenders getting this right and arguably. It's not really going that well for a lot of people look at what. Maryland's going getting all SPAN INFORMATION. So that's why there are growing calls from Congress to fix this. I talked to Steve. Sharp with the nonprofit National Consumer Law Center. It's so important. We believe for Congress to step in and clearly state through law that for folks who have covid nineteen forbearance the real default should be putting their mortgage payments at the end of the lowe. Okay so just make that. The default make it automatic. So there's confusion the payments. Just go on the back end right and and some members of Congress do WANNA do this. There's a bipartisan group of State Attorneys General who were pushing for this to the CEO of a mortgage company. I talked to likes the idea and I actually called up and talked to Maryland and her husband again and I. Currently they're using their tenants security deposit and the last month's rent to sort of make up some of the difference of the rent that they're not able to pay but that's not going to be able to go on for too much longer and Maryland said look at mean having the certainty of this default option would make them much more comfortable skipping mortgage payments so that they could afford to be more flexible with with their tenants. Yeah because then. We wouldn't even need to be talking about drawing down from the money that they already put on deposit with us you know we could leave that untouched We would definitely have a whole lot more flexibility to to really see you know if if they are drawing from their savings. Maybe they don't need to do

Maryland Congress Marilyn Seattle Mortgage Bankers Association Jim I NPR Chris Wise Chris Rachel Chris CEO Fannie Mae Arnold Lowe National Consumer Law Center Steve Freddie Mac
Fresh update on "fannie mae" discussed on The Retire Wright Show with Isaac Wright

The Retire Wright Show with Isaac Wright

00:02 min | 6 hrs ago

Fresh update on "fannie mae" discussed on The Retire Wright Show with Isaac Wright

"I'm talking about Two steaks that I've made in the past. Before because I didn't have a mentor. And there was nobody there to tell me what to do is I went through this process of just learning from one step to the next. And the one who started with yours, thie inspections and the fact that you need to do a thorough inspection of the property, the physical structure of the property. Um In fact, you know, I didn't even say it, but really, you need to thoroughly due diligence and all aspects of the property. And that's even more Involved in inspections, but we'll start with inspections. So when I first started the first house I ever bought was a Fannie Mae foreclosure. This was back in the eighties, and Fannie Mae had come up with this idea that there's like 800,000 houses that were repossessed. He hasn't What they did was they decided to get rid of a law was they would fix them up. They brought contractors in renovated him and then turned around and sold and put Fannie Mae mortgages on him. So you're looking at Fannie Mae, the bank. I was giving you the loan on the deal. And they had done the rehab. So the rehab was done to their expectations. And there was really no need to get an inspection. Allah Other than common sense. Which I say when I say there's no need, I was that's tongue in cheek. There's no need. Ah, because they're selling you the property and they did the rehab. And they're going to lend you the money. So if there's anything wrong, you know their collateral is what they created. But that wasn't exactly true. In many cases, what was happening was they were doing major things. For instance, they would replace the roof in almost every house to replace the flooring. They replaced the appliances. In every house they painted inside, painted the outside. So I mean, cosmetically. The property was in good condition. Very good condition. In fact, Amazingly good. So it kind of Left me At the very beginning. Under the belief system that inspections were not that important. In other words, I bought a bunch of these things. These foreclosures Fact about four of them in a row. The 1st 4 deal that bought were these kinds of foreclosures, so I built in this immunity. To the fear of learning to be mats of inspections. Never paid for an inspector to come in and inspect the house and find out what was wrong with it for me. So that became my modus operandi now later on down the line. Things went wrong with these houses. Probably couldn't have stopped it. Bobby. I have an inspection and probably wouldn't have not bought him because of it. But one of the things that happened to me was anything was built in the eighties. Was built with plastic Water lines coming from the cities. Main water supply out of the street. So the stuff that went from the street to your house was plastic. No. 15 20 years ago, when I was dealing with this 30 years ago, and it was I could tell you what that stuff was called. But it was some kind of Polly bugling type of Polymer plastic type. Pipe. That didn't hold up bottom line. And so I end up replacing Those water supply lines in many, many houses that were built during That era and Seventies eighties and so forth. For all built with this stuff. Another thing that I never knew about. Was backed in houses were wrapped in something that was like a maze tonight product. If you've ever seen Mason. It's kind of like a paper board type of product crust. Paper material pressed include whatever it is and I was on the outside of the house, the only thing keeping the paper board From running away was paint. Well, just a soon as that paint was cut or scratched. Paper for Ludwik water up into it. They would bow it would bend it would rot. And pretty soon the siding on your house was useless, just completely useless. And you know that stuff. We don't run into a cz much today because most the houses they have something called hearty plank on or that is the that is the pro name for cement board. Another period of time. That was stock O was a problem and it was here in Texas. They had the stucco. That wasn't the correct a stucco, and it would wick mold in And the whole house would blow up with molten stucco would fall off the side of the house. Again. All kinds of problems, But you have to understand construction. I never understood construction. That wasn't an engineer. I didn't know what that stop meant. So we'd run into that kind of stuff. It was just problematic. Right? Care of late. Hasn't been a problem until the last 10. 15 years is there's a type of Because circuit breaker box and circuit breakers That They won't sure anymore. And started out they wouldn't insure a house that had them because you couldn't replace him. And you couldn't replace them because they wouldn't build them anymore. And then finally got to be they wouldn't build. Um, you know, get a real answer. They wouldn't build them because they were safe and so Now you can't get your house in sure, unless you replace all the circuit breakers. Again. 10 years ago. 15 years ago, not 20 years ago in everyone's eye did house I could tell you what those were. Fact. Actually, we had some of the money in apartment complexes, too. We ran into it. So these were the kinds of things you know you're running into. When you get to apartments it even way way, way way. More importantly, have inspections. Because there's just all kinds of stuff. I mean, I could go on that list for ever. Never never, but we're just starting at the bottom with the houses and stuff the inspections. Now, one of the things that you run into his brokers will tell you that they all looked the same..

Fannie Mae Ludwik Polly Bugling Bobby Engineer Texas Mason
Here’s what you need to know about paying your rent or mortgage

Dan Proft

05:09 min | 4 months ago

Here’s what you need to know about paying your rent or mortgage

"So we talked a lot about the P. P. P. over the last couple of days the payroll protection program trump suggesting yesterday that he once said two hundred fifty two or fifty billion dollars to that the loan forgiveness program for small businesses what about individuals who are wondering about how they're going to pay their mortgage as they're waiting for the disaster relief checks or for unemployment insurance benefits to kick in for a discussion about the mortgage business we're pleased to be joined by our friend David hopper vice president lending of team Hochberg and home side financial David thanks for joining us appreciate it thank you ram appreciate the opportunity so thinking about people in financial distress or certainly concerned about being in financial distress in the not too distant future depending on how things transpire what are some of the questions you're getting in the recommendations you're making to people yeah well again thanks a lot for the opportunity your listeners are gonna fall into fort Meade a mostly four categories one there you're gonna have a party mac clone they're either going to have Fannie Mae Freddie Mac and will throw three categories trying to be pretty back FHA or VA okay Fannie Mae Freddie Mac allow your listeners and the easiest way to find out guys is to just call the eight hundred number on your mortgage statement and call them up and ask them if you have a female Freddie Mac FHA loan if you have a VA loan you you most likely would not be a long serving in our military or our a surviving spouse what what cleaning may forty mac have have issued rules that their servicers can allow up to twelve months of forbearance here's the biggest challenge though a forbearance is when a borrower can differ mortgage payments without any late fees or down any hits on the credit the challenges it's up to the servicer the person that has your mortgage that you're writing your mortgage thank you to make that determination what they've said is spinning the forty mac and come out and said is if you call them and state that you're having economic hardship economic challenges due to corporate nineteen coronavirus they will put you into a forbearance without any issues here's a challenge with Randy for Fannie Freddie rules state that if they put you to a three month of forbearance for example if you call today you could defer your April may and June payment but come July what your listeners to allow listeners don't realize come July first when the to my mortgage payment is due they want the ninety days of deferred payments as well so that's a major challenge and I called up my servicer who is chasing set what happens if listeners borrowers can't make that hundred twenty days worth of payments obviously they're going to permit into forbearance because we've got challenges he's like well they have to call back again they're not gonna make it easy for you you have to call back and either ask for another forbearance for loan modification at that time but see anybody Freddie Mac rules clearly state in a recent letter that they sent out to all other other servicers that farmers can get up to twelve months worth of errands now on the FHA rules FAQ role is completely different and this is important for your listeners to understand if you have an FHA rule FHA wrote FHA will allow six to twelve months worth of forbearance so they'll give you six blocks at a time but again you have to call your servicer who is the company that you write your checks to and request forbearance now the difference between winning may Freddie Mac and FHA the FHA has stated after the twelve months worth of forbearance they will allow you to allow farmers to add a second loan with zero percent interest on the backs all the missed payment you made for the six or twelve months there will be a subordinate loan added at zero percent interest that no penalty to the borrower that will be paid off when you either refinance or sell your home the T. and there hasn't been any rules released yet for VA loans Ross I would I I would you'd you know share that with you listen it's a constantly moving thing right now and we're trying to stay ahead of it the best we can why are they offering forbearance for six to twelve months is that an indication about how long they think this may last sort of a hedge what will it be pretty macros of Fannie Mae and Freddie Mac is already have forty wrote written rules for their servicers to offer up to twelve months which means you know what they know okay that is it's going to be this is war I'm not trying to freak your listeners out but I I survived nine eleven I survived oh wait and I'm telling you right now eight we had what may be seven to eight hundred thousand people unemployed which was a huge hit to the economy you're you're talking twelve fifteen twenty times that number so what Fannie Mae Freddie Mac FHA are doing is trying to get ahead of it so you don't have bar were standing around the corner at the gymnasium is trying to do loan modifications like they did in a weight which is a complete

P. P.
A guide to surviving financially as the bills come due

AP News Radio

00:55 sec | 4 months ago

A guide to surviving financially as the bills come due

"With April first upon us there are bills due this week and millions of Americans who no longer have a job for a paycheck the Associated Press is compiled some tips to help the first thing to do is to reach out and notify a mortgage lender student loan servicer or utility provider that you need relief and see what they offer foreclosures have been suspended for FHA mortgages and those backed by Fannie Mae or Freddie Mac gas electric and other utility providers often have assistance programs for cobra allows laid off workers to keep health insurance although there is a large out of pocket expense some states are allowing new enrollments in insurance exchanges to those who have lost their coverage and for those struggling to pay credit cards auto loans and other consumer debt reach out to your lender federal regulators have instructed them to work with borrowers impacted by the virus I'm Jackie Quinn

Associated Press Fannie Mae Jackie Quinn FHA Freddie Mac
A guide to surviving financially as the bills come due

AP News Radio

00:55 sec | 4 months ago

A guide to surviving financially as the bills come due

"With April first upon us there are bills due this week and millions of Americans who no longer have a job for a paycheck the Associated Press is compiled some tips to help the first thing to do is to reach out and notify a mortgage lender student loan servicer or utility provider that you need relief and see what they offer foreclosures have been suspended for FHA mortgages and those backed by Fannie Mae or Freddie Mac gas electric and other utility providers often have assistance programs for cobra allows laid off workers to keep health insurance although there is a large out of pocket expense some states are allowing new enrollments in insurance exchanges to those who have lost their coverage and for those struggling to pay credit cards auto loans and other consumer debt reach out to your lender federal regulators have instructed them to work with borrowers impacted by the virus I'm Jackie Quinn

Associated Press Fannie Mae Jackie Quinn FHA Freddie Mac
A guide to surviving financially as the bills come due

AP News Radio

00:55 sec | 4 months ago

A guide to surviving financially as the bills come due

"With April first upon us there are bills due this week and millions of Americans who no longer have a job for a paycheck the Associated Press is compiled some tips to help the first thing to do is to reach out and notify a mortgage lender student loan servicer or utility provider that you need relief and see what they offer foreclosures have been suspended for FHA mortgages and those backed by Fannie Mae or Freddie Mac gas electric and other utility providers often have assistance programs for cobra allows laid off workers to keep health insurance although there is a large out of pocket expense some states are allowing new enrollments in insurance exchanges to those who have lost their coverage and for those struggling to pay credit cards auto loans and other consumer debt reach out to your lender federal regulators have instructed them to work with borrowers impacted by the virus I'm Jackie Quinn

Associated Press Fannie Mae Jackie Quinn FHA Freddie Mac
A guide to surviving financially as the bills come due

AP News Radio

00:55 sec | 4 months ago

A guide to surviving financially as the bills come due

"With April first upon us there are bills due this week and millions of Americans who no longer have a job for a paycheck the Associated Press is compiled some tips to help the first thing to do is to reach out and notify a mortgage lender student loan servicer or utility provider that you need relief and see what they offer foreclosures have been suspended for FHA mortgages and those backed by Fannie Mae or Freddie Mac gas electric and other utility providers often have assistance programs for cobra allows laid off workers to keep health insurance although there is a large out of pocket expense some states are allowing new enrollments in insurance exchanges to those who have lost their coverage and for those struggling to pay credit cards auto loans and other consumer debt reach out to your lender federal regulators have instructed them to work with borrowers impacted by the virus I'm Jackie Quinn

Associated Press Fannie Mae Jackie Quinn FHA Freddie Mac
A guide to surviving financially as the bills come due

AP News Radio

00:55 sec | 4 months ago

A guide to surviving financially as the bills come due

"With April first upon us there are bills due this week and millions of Americans who no longer have a job for a paycheck the Associated Press is compiled some tips to help the first thing to do is to reach out and notify a mortgage lender student loan servicer or utility provider that you need relief and see what they offer foreclosures have been suspended for FHA mortgages and those backed by Fannie Mae or Freddie Mac gas electric and other utility providers often have assistance programs for cobra allows laid off workers to keep health insurance although there is a large out of pocket expense some states are allowing new enrollments in insurance exchanges to those who have lost their coverage and for those struggling to pay credit cards auto loans and other consumer debt reach out to your lender federal regulators have instructed them to work with borrowers impacted by the virus I'm Jackie Quinn

Associated Press Fannie Mae Jackie Quinn FHA Freddie Mac
A guide to surviving financially as the bills come due

AP News Radio

00:55 sec | 4 months ago

A guide to surviving financially as the bills come due

"With April first upon us there are bills due this week and millions of Americans who no longer have a job for a paycheck the Associated Press is compiled some tips to help the first thing to do is to reach out and notify a mortgage lender student loan servicer or utility provider that you need relief and see what they offer foreclosures have been suspended for FHA mortgages and those backed by Fannie Mae or Freddie Mac gas electric and other utility providers often have assistance programs for cobra allows laid off workers to keep health insurance although there is a large out of pocket expense some states are allowing new enrollments in insurance exchanges to those who have lost their coverage and for those struggling to pay credit cards auto loans and other consumer debt reach out to your lender federal regulators have instructed them to work with borrowers impacted by the virus I'm Jackie Quinn

Associated Press Fannie Mae Jackie Quinn FHA Freddie Mac
A guide to surviving financially as the bills come due

AP News Radio

00:55 sec | 4 months ago

A guide to surviving financially as the bills come due

"With April first upon us there are bills due this week and millions of Americans who no longer have a job for a paycheck the Associated Press is compiled some tips to help the first thing to do is to reach out and notify a mortgage lender student loan servicer or utility provider that you need relief and see what they offer foreclosures have been suspended for FHA mortgages and those backed by Fannie Mae or Freddie Mac gas electric and other utility providers often have assistance programs for cobra allows laid off workers to keep health insurance although there is a large out of pocket expense some states are allowing new enrollments in insurance exchanges to those who have lost their coverage and for those struggling to pay credit cards auto loans and other consumer debt reach out to your lender federal regulators have instructed them to work with borrowers impacted by the virus I'm Jackie Quinn

Associated Press Fannie Mae Jackie Quinn FHA Freddie Mac
A guide to surviving financially as the bills come due

AP News Radio

00:55 sec | 4 months ago

A guide to surviving financially as the bills come due

"With April first upon us there are bills due this week and millions of Americans who no longer have a job for a paycheck the Associated Press is compiled some tips to help the first thing to do is to reach out and notify a mortgage lender student loan servicer or utility provider that you need relief and see what they offer foreclosures have been suspended for FHA mortgages and those backed by Fannie Mae or Freddie Mac gas electric and other utility providers often have assistance programs for cobra allows laid off workers to keep health insurance although there is a large out of pocket expense some states are allowing new enrollments in insurance exchanges to those who have lost their coverage and for those struggling to pay credit cards auto loans and other consumer debt reach out to your lender federal regulators have instructed them to work with borrowers impacted by the virus I'm Jackie Quinn

Associated Press Fannie Mae Jackie Quinn FHA Freddie Mac
A guide to surviving financially as the bills come due

AP News Radio

00:55 sec | 4 months ago

A guide to surviving financially as the bills come due

"With April first upon us there are bills due this week and millions of Americans who no longer have a job for a paycheck the Associated Press is compiled some tips to help the first thing to do is to reach out and notify a mortgage lender student loan servicer or utility provider that you need relief and see what they offer foreclosures have been suspended for FHA mortgages and those backed by Fannie Mae or Freddie Mac gas electric and other utility providers often have assistance programs for cobra allows laid off workers to keep health insurance although there is a large out of pocket expense some states are allowing new enrollments in insurance exchanges to those who have lost their coverage and for those struggling to pay credit cards auto loans and other consumer debt reach out to your lender federal regulators have instructed them to work with borrowers impacted by the virus I'm Jackie Quinn

Associated Press Fannie Mae Jackie Quinn FHA Freddie Mac
A guide to surviving financially as the bills come due

AP News Radio

00:55 sec | 4 months ago

A guide to surviving financially as the bills come due

"With April first upon us there are bills due this week and millions of Americans who no longer have a job for a paycheck the Associated Press is compiled some tips to help the first thing to do is to reach out and notify a mortgage lender student loan servicer or utility provider that you need relief and see what they offer foreclosures have been suspended for FHA mortgages and those backed by Fannie Mae or Freddie Mac gas electric and other utility providers often have assistance programs for cobra allows laid off workers to keep health insurance although there is a large out of pocket expense some states are allowing new enrollments in insurance exchanges to those who have lost their coverage and for those struggling to pay credit cards auto loans and other consumer debt reach out to your lender federal regulators have instructed them to work with borrowers impacted by the virus I'm Jackie Quinn

Associated Press Fannie Mae Jackie Quinn FHA Freddie Mac
A guide to surviving financially as the bills come due

AP News Radio

00:55 sec | 4 months ago

A guide to surviving financially as the bills come due

"With April first upon us there are bills due this week and millions of Americans who no longer have a job for a paycheck the Associated Press is compiled some tips to help the first thing to do is to reach out and notify a mortgage lender student loan servicer or utility provider that you need relief and see what they offer foreclosures have been suspended for FHA mortgages and those backed by Fannie Mae or Freddie Mac gas electric and other utility providers often have assistance programs for cobra allows laid off workers to keep health insurance although there is a large out of pocket expense some states are allowing new enrollments in insurance exchanges to those who have lost their coverage and for those struggling to pay credit cards auto loans and other consumer debt reach out to your lender federal regulators have instructed them to work with borrowers impacted by the virus I'm Jackie Quinn

Associated Press Fannie Mae Jackie Quinn FHA Freddie Mac
A guide to surviving financially as the bills come due

AP News Radio

00:55 sec | 4 months ago

A guide to surviving financially as the bills come due

"With April first upon us there are bills due this week and millions of Americans who no longer have a job for a paycheck the Associated Press is compiled some tips to help the first thing to do is to reach out and notify a mortgage lender student loan servicer or utility provider that you need relief and see what they offer foreclosures have been suspended for FHA mortgages and those backed by Fannie Mae or Freddie Mac gas electric and other utility providers often have assistance programs for cobra allows laid off workers to keep health insurance although there is a large out of pocket expense some states are allowing new enrollments in insurance exchanges to those who have lost their coverage and for those struggling to pay credit cards auto loans and other consumer debt reach out to your lender federal regulators have instructed them to work with borrowers impacted by the virus I'm Jackie Quinn

Associated Press Fannie Mae Jackie Quinn FHA Freddie Mac
A guide to surviving financially as the bills come due

AP News Radio

00:55 sec | 4 months ago

A guide to surviving financially as the bills come due

"With April first upon us there are bills due this week and millions of Americans who no longer have a job for a paycheck the Associated Press is compiled some tips to help the first thing to do is to reach out and notify a mortgage lender student loan servicer or utility provider that you need relief and see what they offer foreclosures have been suspended for FHA mortgages and those backed by Fannie Mae or Freddie Mac gas electric and other utility providers often have assistance programs for cobra allows laid off workers to keep health insurance although there is a large out of pocket expense some states are allowing new enrollments in insurance exchanges to those who have lost their coverage and for those struggling to pay credit cards auto loans and other consumer debt reach out to your lender federal regulators have instructed them to work with borrowers impacted by the virus I'm Jackie Quinn

Associated Press Fannie Mae Jackie Quinn FHA Freddie Mac
A guide to surviving financially as the bills come due

AP News Radio

00:55 sec | 4 months ago

A guide to surviving financially as the bills come due

"With April first upon us there are bills due this week and millions of Americans who no longer have a job for a paycheck the Associated Press is compiled some tips to help the first thing to do is to reach out and notify a mortgage lender student loan servicer or utility provider that you need relief and see what they offer foreclosures have been suspended for FHA mortgages and those backed by Fannie Mae or Freddie Mac gas electric and other utility providers often have assistance programs for cobra allows laid off workers to keep health insurance although there is a large out of pocket expense some states are allowing new enrollments in insurance exchanges to those who have lost their coverage and for those struggling to pay credit cards auto loans and other consumer debt reach out to your lender federal regulators have instructed them to work with borrowers impacted by the virus I'm Jackie Quinn

Associated Press Fannie Mae Jackie Quinn FHA Freddie Mac
A guide to surviving financially as the bills come due

AP News Radio

00:55 sec | 4 months ago

A guide to surviving financially as the bills come due

"With April first upon us there are bills due this week and millions of Americans who no longer have a job for a paycheck the Associated Press is compiled some tips to help the first thing to do is to reach out and notify a mortgage lender student loan servicer or utility provider that you need relief and see what they offer foreclosures have been suspended for FHA mortgages and those backed by Fannie Mae or Freddie Mac gas electric and other utility providers often have assistance programs for cobra allows laid off workers to keep health insurance although there is a large out of pocket expense some states are allowing new enrollments in insurance exchanges to those who have lost their coverage and for those struggling to pay credit cards auto loans and other consumer debt reach out to your lender federal regulators have instructed them to work with borrowers impacted by the virus I'm Jackie Quinn

Associated Press Fannie Mae Jackie Quinn FHA Freddie Mac
Answering Your Questions of Stimulus Relief

Clark Howard Show

08:27 min | 4 months ago

Answering Your Questions of Stimulus Relief

"Wants to know she said I heard if you're on social security and you receive less than thirty thousand dollars per year you will not receive the stimulus money. Is this true? I have not seen anything saying that anywhere. So if you're talking about the twelve hundred dollar helicopter money I have not seen that the the senior citizens that will not receive it or senior citizens that are claimed as a dependent of someone else like. Let's say an adult child provides a lot of your care and Pays for more than half of your costs. And they may claim you on their taxes than you would not be eligible and they would not receive any Any helicopter money but if you live independently. I know of no reason why you would be eligible for the money. Doug has a question about his stimulus. Jackie says I've heard rumors that the cove in nineteen stimulus checks are going to be deducted from twenty twenty income tax refunds if a refund is applicable. Is that correct? No this is that something that I it a couple of days ago. I said I was going to have to read up on because we had another question about how this is affected in terms of taxes. And this is like money. Falling out of the sky it is Essentially a non taxable gift from the taxpayers collectively to you as an individual tax payer and the twelve hundred bucks per individual and a couple twenty four hundred. The five hundred per dependent child That money is just money. That's yours to us into spend as you need or to save for the event that Finance become more difficult for you over time no tax will be do chem I right. Michael says that he is self employed. He has no employees and he heard that there is no provision for people like him. What do you suggest I do? Is there any program that I can apply for help? Okay what's actually different? This time is there is assistance to people. That are self-employed self-employed individuals who've had their incomes. Crushed or eligible for what I think is the first time ever for unemployment compensation. The unemployment compensation will continue for Roughly I don't know if it's going to be sixteen weeks or seventeen weeks. I haven't seen final wording on that. Is Unemployment compensation you apply for with your State Unemployment Insurance Group And we have all the agency information for you with direct hyper links for all fifty states on our update to filing for unemployment on Clark Dot Com. We also have a deep dive story on it that we did not right but we linked to act. Clark DOT COM on applying for unemployment. So people that are self employed people that are independent contractors people that are GIG workers all three categories that under virtually every state law would be ineligible for unemployment compensation and all three categories. You are now eligible under the third stimulus Bill Joe Clark. Shane says I own some rental single family. Homes Have Fannie Mae backed mortgages under the new federal legislation. If my tenants can't pay rent will I have any loan payment forbearance if I can't pay the mortgage on those rental homes and if yes will how will that forbearance work? I am so glad you asked this question. Because I've been looking for the answer for people who have rental properties underwritten Indirectly by the federal government now. The legislation is clear that owner occupied properties. You're able to ask for forbearance for twelve months. I have not found anything that gives me a definitive answer yet for people who have rental properties because even though this is the first time we've had on the show. It's the third time I've been asked the question this week. By people off off the show people have been asking me who have rental properties that. They're worried they're tenants aren't going to pay is therefore available for them in what is essentially a Investment property not a personal residence. And hopefully that answer will emerge after this is adopted signed by the President and the regulations are issued. But for now I don't know Khem Sachs says now that the government is halting student loan interest in payments for six months. Does that mean that if I choose to make payments that the payment will go straight towards principal? There's no wording on that yet you know. There's no interest is going to be charged. But I've had a number of people ask me you know if I if I've got my job everything's fine. Just keep paying my student loans as agreed and am I gonNa get burned by doing that by missing the interest holiday so is best. I can tell you will not get benefit of the interest holiday if you continue to pay although that could change because I need to. I need to step back a second and explain something. And that is when the Congress passes a bill and then the president signs it into law. A lot of what's in there is worked out later by administrative agencies by the real various federal agencies so in the case with student loans it will be the US Department of Education that will ultimately issue guidance. On what will happen with something like somebody who says hey. I don't need a holiday. I'm going to keep paying amount. Do you get the benefit of no interest is an additional amount reducing your loan. That's the kind of thing Balhaf to decide because there's nothing I could find in what I've read. I've read that part of the statute that addresses. What happens if somebody voluntarily continues to make those payments so these kind of questions will be answered over the next several weeks? We only have a lot of areas more general information. Joe Clark. Brad has a question that might fall under exactly what you were. Just mentioning with the clarification from the different agencies but he says that his wife has automatic payments I in loans so we'll the grace period where the loans don't need to be paid. What will those automatic payments just cease for the time being and then start up again in October? That seems to be the plan because again the education department's going to have to make that happen but their intention is to cease all collections on loans for that period of time to be essentially no billing for loans and many people have them set up as automatic so there are two ways. People do automatics. If you have a bill pay service set up with your checking account and you just automatically pay certain bills every month. You will have to discontinue that if you're doing it for student loans because that would continue to go regardless of the actions of the US Department of Education on the other hand if your federal student loan servicer drafts here account each month. That's the activity that will likely automatically cease. So that's a distinction with a difference. It's very important that if you don't WanNa make your payments that you discontinue automatic bill pay and let me emphasize again. This is four federal student loans. Private loans are not included at all to this point. Private student loan providers are doing basically pretty much nothing for borrowers all. The action has been at the federal

Us Department Of Education Self Employed President Trump Bill Joe Clark Federal Government Fannie Mae Doug Joe Clark Khem Sachs Jackie Congress Shane Michael Principal Balhaf
"fannie mae" Discussed on 760 KFMB Radio

760 KFMB Radio

05:59 min | 8 months ago

"fannie mae" Discussed on 760 KFMB Radio

"Half an hour the big first step being taken to privatize Fannie Mae and Freddie Mac even back to you thanks two thousand nineteen is wrapping up with the bank for many reasons of course but for the real estate industry it marks the debut of one of the biggest events ever any ours twenty twenty real estate forecast summit a gathering of world class economists real towards an industry experts a look ahead an examination of the challenges solutions and trends that could affect everyone involved in buying selling investing and owning real estate as the summit got under way I spoke with any our CEO Bob Goldberg about this brand new hallmark of real estate in America and how it brings together property ownership in all the factors that affect it my question to Bob how is real estate in America doing right now as we approach the new year and a new decade we see a very positive outlook that's going to happen again and house of the biggest challenge we all have been is inventory we need more places for people to be able to call home so there is someone of a shortage of housing and that's always a challenge which is yeah people stay put longer they tend to look at you know is younger generation of millennials which has been a challenge for young folks trying to buy their first home now why is that college debt has settled people left and right affordable housing which to me is the first and foremost thing that we in this country have to address that doesn't mean just lower prices or having housing that hits a certain type of economic range is being able to have enough inventory to be able to accommodate the needs of families weather's young folks retirees that middle part of the demographics that there's opportunities to obtain housing without there being a burial Ferrier financially of Berrier in not knowing if there's going to be enough homes to be able to compare that applies to rental that applies to commercial yeah so giving people lots of choices at affordable pricing ranges is a up most requirement there are challenges as you said affordability the lack of homes for sale there just aren't enough houses for all the buyers out there but at least interest rates are low their historic lows you know when we were growing up our parents or grandparents have rates that we said we will never see it yet and boy how lucky they were and when I bought my first home back in the early eighties I had sixteen percent interest rate and three and a half points which is just incredible and they kept dropping it dropping and dropping you know you find rates well under you know five four to half percent for condos for single family homes for refinancing incredible opportunities so that has generated lots of interesting opportunity but you've got to have the places on the homes in the dwellings to make that happen so I know that in the big economic summit the biggest push of all is the one for solutions how do we solve the problem the Ford ability how do we solve the problem of inventory and how we solve the problem in homeownership gaps in some parts of society that can't afford a home what do you do about that well I think it all comes down to one basic tenet you know what to realtors stand for what does the national association of realtors and our members what's the most important thing we need to focus on and that is fair house because if you make sure that everything is fair and open to everyone which is what we a spouse that's part of our code of ethics we just celebrated a year plus you know the fiftieth anniversary of fair housing we have been a stalwart working within our industry and outside industry groups and multi cultural groups about the importance of what for housing rent so you got to have that as your baseline starting point we talked about affordable housing how do you have enough housing and different some people don't want to buy a home some people want to read because I want to be mobile you've got to be able to accommodate all situations and all places and I think the way you do that is continually put our consumers first in everything that we do that's why we're here we're here as an industry to serve consumers we also have to educate our members we have to educate consumers about what they need to look for how they get involved in their communities how to get involved especially in terms of legislative or regulatory issues that may impact them in their housing in their local communities how that may play up to a state level and certainly any are and all the allies that we work with on the federal level of federal let legislation what's going on with tax policy what's going on with mortgage interest deduction was going in terms of capital gains exclusions all the different as flood insurance yeah we're the voice for consumers when it comes to real estate that's an imperative also you have someone is fighting on behalf of property owners in this country that says we have to make it so that we do de regulate or the bottle neck may be the better work things that impede development of helping for building communities to help our consumers be able to have an opportunity to bring you and raise their families that's the kind of thing that we need to continue to focus on well Bob as we enter a new year and a new decade I thank you for being with us today and the best of luck to you too everyone of our members and to every homeowner and property owner across America in the coming years thank you so much David enjoy the time you very well.

Fannie Mae Freddie Mac
"fannie mae" Discussed on 77WABC Radio

77WABC Radio

06:26 min | 8 months ago

"fannie mae" Discussed on 77WABC Radio

"Fannie Mae and Freddie Mac Stephen back to you thanks two thousand nineteen is wrapping up with the bank for many reasons of course but for the real estate industry it marks the debut of one of the biggest events ever any ours twenty twenty real estate forecast summit a gathering of world class economists real Taurus and industry experts a look ahead an examination of the challenges solutions and trends that could affect everyone involved in buying selling investing and owning real estate as the summit got under way I spoke with any our CEO Bob Goldberg about this brand new hallmark of real estate in America and how it brings together property ownership in all the factors that affect it my question to Bob how is real estate in America doing right now as we approach the new year and a new decade we see a very positive outlook that's going to happen again and housing the biggest challenge we all have is inventory we need more places for people to be able to call home so there is someone of a shortage of housing and that's always a challenge which is yeah people stay put longer they tend to look at you know a younger generation of millennials which has been a challenge for young folks trying to buy their first home now why is that college debt his saddle people left and right affordable housing which to me is the first and foremost thing that we in this country have to address that doesn't mean just lower prices or having housing that hits a certain type of economic range is being able to have enough inventory to be able to accommodate the needs of families weather's young focus retirees that middle part of the demographics that there's opportunities to obtain housing without there being a burial Berrier financially of Berrier in not knowing if there's going to be enough homes to be able to compare that applies to rental that applies to commercial yeah so give me people lots of choices at affordable pricing ranges is a up most requirement there are challenges as you said affordability the lack of homes for sale there just aren't enough houses for all the buyers out there but at least interest rates are low yeah their historic close you know when we were growing up our parents or grandparents had rates that we said we will never see it yet and boy how lucky they were and when I bought my first home back in the early eighties I had sixteen percent interest rate and three and a half points which is just incredible and it kept dropping it dropping dropping yeah you find rates well under you know five four to half percent for condos for single family homes for refinancing incredible opportunities so that has generated lots of interesting opportunity but you got to have the places in the homes in the dwellings to make it happen so I know that in the big economic summit the biggest push of all is the one for solutions how do we solve the problem Ford ability how do we solve the problem of inventory and how we solve the problem in homeownership gaps some parts of society that can't afford a home what do you do about that well I think it all comes down to one basic tenet you know what to realtors stand for what does the national association of realtors and our members was the most important thing we need to focus on and that is fair housing because if you make sure that everything is fair and open to everyone which is what we a spouse that's part of our code of ethics we just celebrated a year plus you know the fiftieth anniversary of fair housing we have been a stalwart working within our industry and outside industry groups and multi cultural groups about the importance of what for housing rent so you got to have that as your baseline starting point we talked about affordable housing how do you have enough housing in different some people don't want to buy a home some people want to read because I want to be mobile you've got to be able to accommodate all situations and all places and I think the way you do that is continually put our consumers first in everything that we do that's why we're here we're here as an industry to serve consumers we also have to educate our members we have to educate consumers about what they need to look for how they get involved in their communities how to get involved especially in terms of legislative or regulatory issues that may impact them in their housing in their local communities how that may play up to a state level and certainly in the are in all the allies that we work with on the federal level if federal let legislation what's going on with tax policy was going on with mortgage interest deduction was going in terms of capital gains exclusions all the different as flood insurance yeah we're the voice for consumers when it comes to real estate that's an imperative also you have someone who's fighting on behalf of property owners in this country that says we have to make it so that we do de regulate or the bottle neck may be the better work things that impede development of helping for building communities to help our consumers be able to have an opportune to breed and raise their families that's the kind of thing that we need to continue to focus on well Bob as we enter a new year and a new decade I thank you for being with us today and the best of luck to you too everyone of our members and to every homeowner and property owner across America in the coming years thank you so much they've been enjoyed the time they're very well I just Bob Goldberg the CEO of the national association of realtors I will have much more from any ours twenty twenty real estate forecast some throughout today show coming up on real estate today what's your home sellers expect in the new year the demand is high the supply is low but that still doesn't mean that you can price it out of control let's say based on that people are.

Fannie Mae Freddie Mac Stephen
"fannie mae" Discussed on WMAL 630AM

WMAL 630AM

02:08 min | 9 months ago

"fannie mae" Discussed on WMAL 630AM

"Most recent Fannie Mae home purchase sentiment index revealed that the number of people who say now's a good time to buy a home is falling Fannie Mae chief economist Doug Duncan remains upbeat but he concedes that affordability is not getting any better the main source of the affordability problem is the lack of entry level housing because boomers are not moving Jen answers are not moving and builders typically build for the move up buyer so the biggest affordability should simply lack of supply and Duncan tells CNBC that the Fannie Mae survey also found that first time home buyers are the most conservative in decades in terms of how much of their income they're committing to housing the head of a well known organization that promotes minority home ownership is optimistic Darnell Williams is president of the national association of real estate brokers he says in a new video that he is cautiously encouraged by a census bureau report showing the black homeownership rate rose in the third quarter there is still a thirty percentage point gap between black and non Hispanic white homeownership rates but the reported increase is significant and we are hopeful that our organization's bulls on the grounds effort will continue to yield positive increase the black homeownership rate in America is now forty two point seven percent up two point one percentage points from the second quarter if you have a child in college you know how expensive out of state tuition and room and board can be so business insider reports that some parents are now buying their kids local real estate to save money but wait point real estate investments see Scott Lawler said on fox business I don't know if it's as big a trend as you know the headlines my suggestions are really driving the market percent students tastes preferences and in fact maybe demands have changed dramatically and most existing stock does not comport with current preferences but parents you've gone that route say the so called Kitty condos can not only help their kids get in state tuition can help them build a credit my putting their name on the mortgage coming up a half an hour the housing number that's going up that's good news.

Doug Duncan CNBC Darnell Williams president America Scott Lawler Kitty condos Fannie Mae chief economist Jen fox seven percent
"fannie mae" Discussed on 760 KFMB Radio

760 KFMB Radio

02:06 min | 9 months ago

"fannie mae" Discussed on 760 KFMB Radio

"Most recent Fannie Mae home purchase sentiment index revealed that the number of people who say now's a good time to buy a home is falling Fannie Mae chief economist Doug Duncan remains upbeat but he concedes that affordability is not getting any better the main source of the affordability problem is the lack of entry level housing because boomers are not moving get answers are not moving and builders typically build for the move up buyer so the biggest affordability issues simply lack of supply and Duncan tells CNBC that the Fannie Mae survey also found that first time home buyers are the most conservative in decades in terms of how much of their income they're committing to housing the head of a well known organization that promotes minority home ownership is optimistic Darnell Williams is president of the national association of real estate brokers he says in a new video but he is cautiously encouraged by a census bureau report showing the black homeownership rate rose in the third quarter there is still a thirty percentage point gap between black and non Hispanic white homeownership rates but the reported increase is significant and we are hopeful that our organization's bulls on the grounds effort will continue to yield positive increase the black homeownership rate in America is now forty two point seven percent up two point one percentage points from the second quarter if you have a child in college you know how expensive out of state tuition and room and board can be so business insider reports that some parents are now buying their kids local real estate to save money but wait point real estate investments see Scott Lawler said on fox business I don't know if it's as big a trend as you know the headlines might suggest is not really driving the market percent students tastes preferences and in fact maybe demands have changed dramatically and most existing stock does not comport with color preferences but parents you've gone that route say the so called Kitty condos can not only help their kids get in state tuition can help them build a credit by putting their name on the mortgage coming up I'm half an hour the housing numbers.

Doug Duncan CNBC Darnell Williams president America Scott Lawler Kitty condos Fannie Mae chief economist fox seven percent
"fannie mae" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:43 min | 11 months ago

"fannie mae" Discussed on Bloomberg Radio New York

"Of Fannie Mae and Freddie Mac are up more than sixty percent in the past month on hopes the mortgage companies will exit government conservatorship Bloomberg's Vonnie Quinn spoke with a key voice in the process mark Calabria director of the federal housing finance agency so what we're working on more than a month as you mentioned a letter agreement you may remember the current later agreement caps their capital at three billion in the really new part is a much higher number than three billion so it will still be limited but we're looking to come up with a number that will get us through the next year and a half two years in the in the interim after that we will reach agreement on changes to the underlying share agreement that allow us to chart a path through Fannie Freddie out of conservatorship. processor than an old calendar driven but for example do you anticipate that within a year honey and Freddy will be out of government control. it really depends on how quickly they raise capital so what we want to be able to do is actually to some extent put their destiny back in their hands they're going to be responsible for building capital they're going to be responsible for hating goal posts so what really what we're gonna be doing particularly in the amendments to the share agreement is setting up a bunch of mile markers for feeding frenzy to hit but the the day they're the ones I've got a drive down the road. how much. will this letter agreement authorizes the GSEs to retain director. probably about an offer that will get him through a year and a half two years but this is really the point in negotiations right now the secretary and I have not settled on the final number but we're in the neighborhood were close and and I'm very hopeful that that will get done by the end of the month use talked about reducing Fannie and Freddie's footprint are there areas other products that you wouldn't want them to be an jumbo loans for example or you know other types of loans. this is really going to be focused on D. risking in so again if they're going to go to market how do you look at products that they don't have a higher return keeping in mind again that Fannie Mae for instances leverage a thousand one so it's a safety and soundness regulator I really need to be able to make sure that the risk that they're taking is commensurate with the capital that they hold that's currently not the case so I think some very modest reductions in risk the major footprint will look the same it will just looks a little bit safer and I think it's appropriate particularly given where we are in the house in cycle and given my leverage these entities have. senator brown about you know how you expect investors to get involved with these companies if every extra step you take actually reduces their profitability what what do you say to that director. well first of all whatever size it was a financial arms like regulator the the the the responsibility to raise capital to convince investors his on the company's not me I think I can help make this a safe and sound system were feed somebody does invest in these companies you can be sure that they don't fail again because I think with the current situation is their leverage they have today no fail during the next crisis so how do we build them up in a way that I think of a sustainable I think a number of the higher risk products that they do don't have really good returns on equity in the house so we can reduce some of that risk and of course it's worth keeping in mind that the smaller they aren't the west capital after is to get out. respond to some criticism that this is old is going to be money in the pockets of some hedge funds who owns Fannie Freddie. well it's not necessarily a concern of mine iron I'm tasked with getting them to a safe inside condition that's my responsible on that's my focus if shareholders benefit our show is a benefit that's incidental to me building up the capital again I'll remind you Fannie Mae is leverage a thousand one I have to help them build capital or they would not system sustain the next downturn how long before the funny and Freddie raises outside capital and how do you anticipate that I'm going what will be the rows for the house and I PO. so it could be even though the first thing I think we need to do is start to retain capital and I think we'll have to have a number of months to retain earnings so six months to a year retainer ensure that track record in the boat that question before they can go to market so again emphasizing process driven not calendar driven I think the earliest you could see going to market would be the last fourth quarter twenty twenty twenty twenty one is more likely the case but I really do want to emphasize a lot of things need to be done before you get to that point the government in your preferred shares how they being repaid are these potentially one of the bargaining chips you're using it's certainly one of the one of the one of the parameters you know my view is fundamentally that the government's investment is being managed by treasury and while I'm not offer my thoughts of the secretary it's fundamentally his decision to make up my my focus is on getting Fannie Freddie in a safe and sound condition you know you talk about competition but a new competitor would have three tens of billions of dollars of capital and be on the national stage and you know I have a rate of return that would get investor is to be attracted to is do you anticipate that happening how long would it be before something like that would happen in the country so it I really whatever size for me to be able to issue new charters resolve call for is going to require an act of Congress so well we all know that doesn't happen quickly I think the important Kathy on here is you've got a bit of a chicken and egg if I don't have the usual ability to issue new charters are bring a competitor student no one's gonna try to compete so I would at least like the opportunity to be able to issue charters bring some competition into this you know and more importantly reduce the reliance on feeding and Freddie if we have five or six of these entities then no one of them is necessarily too big to fail so to me the competition aspect is as much about trying to bring financial stability of the system to the mortgage market is it is anything else that was FHFA director Marc Cooper yeah and coming up Howard marks oaktree capital group.

Fannie Mae Freddie Mac Bloomberg Vonnie Quinn director mark Calabria two years sixty percent six months
"fannie mae" Discussed on WSJ What's News

WSJ What's News

02:06 min | 1 year ago

"fannie mae" Discussed on WSJ What's News

"And quote facebook declined to comment and google said it was cooperating with the inquiries quarries do now our main story this morning. The trump administration administration said it would support returning the mortgage lenders fannie mae and freddie mac to private hands. It's a major reversal from what leaders of both parties have been promising that was to abolish polish both the companies. Here's a stat for you fannie and freddie guarantee roughly half of the u._s. Mortgage market charlie turner has been finding out more about the shift aft from andrew ackerman andrew. What is the government's rationale for the process to eventually return fannie mae and freddie mac to private ownership is really two fold. The the first is that when the government put fannie freddie into conservative ship eleven years ago it was supposed to be temporary and they really are serious about finally ending that a lot of people have tried. Everyone's failed to end the conservative. They wanna give it another go. The second reason i guesses more ideological where the administration believes pretty strongly that the government should not play a central role in housing which touches on a huge portion of the economy about fifteen percent of the economy so from what i understand the proposal recommends that federal regulators developed plans to privatize both both mortgage finance giants a plan to develop a plan yeah that seems to be the direction we're headed in is they're not taking positions on specific issues issues like what to do with the government stakes <hes> in these companies but they are sort of saying hey f._h._a. Which regulates fannie and freddie you you guys should develop <hes> capitalization structure. They need capital to be able to stand on their own eventually. They're also saying hey why don't you look at what types of activities maybe we should consider curtailing fannie and freddie i a lot of loans conservative basically questioned why they buy some of along that they'd buy including.

fannie mae fannie freddie freddie mac fannie freddie facebook google andrew ackerman charlie turner fifteen percent eleven years
"fannie mae" Discussed on Realty Speak

Realty Speak

02:04 min | 1 year ago

"fannie mae" Discussed on Realty Speak

"These guys that aren't monsters like portland or related we have access to the same kind of debt but those guys do and fannie and freddie have both built really excellent small balance platforms to address loans from a million to seven seven million with fanny. You can generally go lower seven hundred and fifty thousand depending on the lender. It's really lender's discretion but i want to explain a couple of differences differences. Freddie mac has a great product. They're calling it opt to go now and the credit box is kind of narrow but if you have a loan that fits in their credit fox's multifamily on that fits in their credit box and you're in a large market think l. a. new york miami portland austin market like this you will get the most competitively priced non-recourse low cost leverage in debt that anybody can get. They both very special product. You can get up to ten years fixed on a thirty around the nation. I believe now they had terms up to twenty years where there's uncast active ten years but feeny may as a really special small balanced product also and that product is most powerful in either secondary and tertiary markets where you still want to achieve full leverage and get competitive the pricing because freddie mac is less competitive in smaller markets that are leveraged comes down the rates go up their credit really moves based on market market size first and then my ridge and that sort of this coverage ratios and so on and so forth any is really almost market agnostic unless they've had some bad experiences in a market with foreclosures in which case it can become pre review but something else that fannie mae has that you don't see that most folks don't know.

Freddie mac portland fannie mae fannie fox l. a. new york austin miami ten years twenty years
"fannie mae" Discussed on KTRH

KTRH

03:33 min | 1 year ago

"fannie mae" Discussed on KTRH

"And because it's your second home. It's them t- most of the time, and yet you're paying for the costs of it all the time to help defray those expenses a lot of people who buy second homes would love the idea of renting it out this way, you can generate some income when you're not using it use the income to defray the cost of ownership. It's a very common tactic very common strategy. However, if you obtained a mortgage in order to buy that second home, and if you obtained that mortgage from Fannie Mae there was debate as to whether or not you were allowed to rent the home out Fannie Mae has now issued a new clarification to the situation and Fannie Mae is now clarifying that owners. Who have Fannie Mae loans? Can yes can rent out the second home the previous rule on this was issued back in two thousand one. It was interpreted as prohibiting rentals. Fannie Mae says no the rentals were never prohibited. But the language was ambiguous unclear and drove people crazy. The new language says the following you can rent out your second home after you've owned it for one year Fenway. In other words is saying they wanna make sure you can truly afford own this home on your own without any rental income, and if you can own the home for one year with no rental income, they will then allow you to rent the home out as you wish they also will allow you to do short term renting during that first year under certain conditions. So this is really good news. You should talk to your mortgage lender. If you own a second home to make sure you understand what kind of alone. It is you have who is the originator of that loan meaning was at Fannie Mae in the first place and evaluate your options. If you are planning to rent out, your second home talk with your financial advice. I there are implications. There are issues such as the fact that renters tend to trash properties. Right. I mean, when's the last time you washed a rental car? No what I'm saying. You wanna make sure that the property has proper insurance protection on it. You wanna make sure you were recognizing the amount of revenue you're going to receive on the property, and that it is worthwhile recognize that anytime you rent the property is a period of time. You can't use it. So there are implications. But if you are interested in renting out your second home, Fannie Mae just made it easier for a lot of folks, by the way, where is that? Second home is it in an urban area or a rural area. And in fact, let's broaden that not just your second home, but your primary home where do you live? Do you live in a city? Do you live in the suburbs? Do you live in the boonies? And who by the way is doing better with their personal finances. Those who live in urban areas or those who. Live in rural areas lending tree just released a study, and they looked at Americans living in both cities and in the country, and they looked at them with the average depth. They have their credit scores their mortgage balances their credit card debt their auto loan debt and their student loan debt. And you know, what they discovered in just about every category. Those living in the country are in better financial condition..

Fannie Mae Fenway one year
"fannie mae" Discussed on WGN Radio

WGN Radio

02:42 min | 1 year ago

"fannie mae" Discussed on WGN Radio

"To the I like to talk to you on the phone. See your face, shake your hand because banks verify everything Fannie Mae, Freddie. Mac require certain things if you have stellar credit, a good down payment and everything else in your corner. They may not want to see a paste up. They may not want to see a Bank statement. So if you're fixing the fraud to make. Yourself. Look really good fanny will buy that loan simply meaning the we we underwrite under Fannie Mae guidelines. Fannie Mae will buy that loan. If Fannie Mae doesn't vested to find out that loan is a fraud. The Bank has to buy that loan back banks do not want to buy those loans back yet pursuit of clay. Detective don't you? I mean, are there certain questions that you can ask people when you have that face to face meeting to kind of catch them up in this? You know, there's a lot of you know, I always tell people it's not your grandmother's mortgage, you know, you walk into the Bank shook the hand. And there was a check in your in your savings account to go buy a house fifty years ago. We do tell people when you're coming in. Now, be ready to provide documentation, and they'll say, I didn't do it five years ago. They'll say a customer of associated Bank forever. We very much value those relationships, but you're back to fair lending. I need to pay stubs. I need three months. Bank statements. I need to your tax return. So. The number of cases that are that are seen. I don't know. I know it's gone up. But underwriters really will underwrite the file with a fine tooth comb. And really for associated Bank is making sure the customers protected you're right on the twenty two percent figure some of the states with the highest fraud mortgage fraud or New York, New jersey, Florida, Washington, DC, New Mexico, California, not Illinois. Oh, you know. What always amazes me? They come up with these states, and it's not like they're in one central area. There kind of dotted all over the country. And I couldn't tell you why. But it's it's everywhere. But I think the jumps obviously, in those cases are a little bit more the other big big part of fraud is if you're buying a non occupant home, if you're going to rent it out down payment is twenty five percent rates a little higher. Industrywide people will say they're going to live in the home say you're renting an apartment, and they do that. So they can flip it. So they're down payments going to be less as low as three and a half percent with FHA on a percent VA or whatever you want the down payment to be after that. So they'll say they're going to live there. They'll buy it. They won't move in the flip it for profit. But Quebec and do it again do it again. So they're renting. So you can't prove that they have another home. So that's another real big issue. They're saving on the down payment. And there's they're saving rate is this case where the person committing the fraud could go to jail. Oh, absolutely. Absolutely. I mean, you're fraudulently. And then that's why I don't understand what it's literally you can go on and they'll send you a pay stub somehow. They have to have a hell of a legal team saying, we got you covered there saying, we'll make your pay of and will verify your employment. John how can people get in touch with you? If they want to have this conversation a couple.

Fannie Mae fraud associated Bank Freddie Mac New York Quebec VA John FHA New Mexico New jersey DC Illinois California Washington Florida twenty five percent twenty two percent
"fannie mae" Discussed on KMET 1490-AM

KMET 1490-AM

01:53 min | 2 years ago

"fannie mae" Discussed on KMET 1490-AM

"Might be helping those particular borrowers who may not be w two wage earners there are non products out there is everybody knows non qualified mortgages nonqualified mortgages qualified mortgages something that is purchased by fannie mae freddie mac and those particular loans which which carry with them most of the time insurance are are obviously safer products for fannie mae and freddie mac but there are companies out there who will buy on the secondary market these non cwm loans so there is a supply of money to be able to do that and because we have a shrinking loan pool i e because rates are going up guess what refinances are going down so there's more and more competition for loans out there that's why you're seeing an expanse of loan products and i think clark's gonna speak to that also on the show today we're gonna talk to john venus who has a great concert coming up a three day festival in las vegas nevada it is the summer and we're gonna try to talk to him a little bit about what he's bringing to the marketplace there and his background in concert promotion and stuff like that some of the fun things that are available in the summertime look this is what we do in the summer and southern california certainly in nevada there's a lot of outdoor activity a lot of things to do since last year's concert where we have the massive shooting i wanted to talk to him a little bit about the the security and how they're dealing with that from a concert promoters standpoint and how relevant that is to people who will buy or sell tickets to the event obviously it's very important security wise and we want to make sure that everybody who is attending any of these things is well aware of what the security measures are in and obviously what the concert promoters do what they think and how they think about the actual events but i want to get the slate of his bands and who's actually attending when you're looking to get alone you may go to the internet and on the internet there are.

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"fannie mae" Discussed on The Q&A with Jeff Goldsmith

The Q&A with Jeff Goldsmith

02:01 min | 2 years ago

"fannie mae" Discussed on The Q&A with Jeff Goldsmith

"Well they're they're doing great um the bank did suffer during the period of of the uh the five years the ordeal um they lost money but not enough to go out of business uh but it was such a strain you know on them in every respect and they weren't able to work with fannie mae who was a big part of their business because fannie mae was the alleged victim so they were not permitted to even though fannie mae fundamentally couldn't wait for the trial to and then they hoped it would be innocent verdict so that they could get back in business with you know this terrible company abacus um so they did and they have and they recovered they rebounded and you know ten million dollars is a lot of money um they you know they are the two thousand six hundred fifty first largest bank in the united states but but they have they have done they've done well and they were able to absorb all that they could have gone after the d a to try to duck followed civil suit and get that money back but they decided it wasn't worth it to them that they just wanted to be left alone and go about what they had been doing before all this happen which was to serve the community and help people climb up the ladder of american society when that's the crazy thing when the government comes after you you don't actually always get to recover the costs of just defending yourself and even if you're proven innocent now a lengthy process as well i'm insight starting all over again now but i mean the songs felt fortunate that they were people who were able to fight back i mean think of all the people in this country who find themselves in a kind of position where the government's coming after them unfairly and they are in no position fightback that's partly why ninety seven percent of cases get pleaded out and don't even go to trial and i think we all know that probably ninety.

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"fannie mae" Discussed on TalkRadio 1370AM

TalkRadio 1370AM

02:01 min | 2 years ago

"fannie mae" Discussed on TalkRadio 1370AM

"Grand is very quick autographed you know you're at an eighty percent loan to value now now eight you gotta you gotta fannie mae mortgage ali i have thirty thirty or conventional currently okay contact won't you just contact them and ask them if you can't buy an appraisal to prove that you're at eighty percent of the the with an appraisal firm that they approve of and dropped the pmi they'll probably do that they're recounting about it'd be by quick could i pick it up myself i you know i read it in too hard then i knew i'd they have created a lot however because it be an two years since i i closed i had to do with in under two years in order for them to do that so they look at it because i waited more than two years they won't drop it they're going to make new or you finance whoa good old wells fargo oh no i'm not sure that's up to wells fargo i'm not sure that's not a fannie mae funding but okay the l i i think refinance was gonna work and pulled off employees are in com uh it's about one hundred fifty thousand killed atlanta way to go good for you yeah one of the allies at this stage of the game this is our math rental as much as anything else okay so yeah you need to be putting you got great income you you're you're you're very intentional and in doing a great job with your money no i wouldn't screw around with be sure you're putting fifteen percent 'cause you're gonna be very wealthy if you stay on this track right make sure you're putting fifteen percent away but yeah i'm out believer refinance my work hotter churchill mortgage and having the rent crunch some numbers for you i believe you're breakeven analysis on that's going to work map south good question good discussion to have but the good news is you got a great income you got a lot of options this is not anything except a math reddell at this point rich is with us some tallahassee florida high rich hour you i gave thanks for taking my call sure what's up i'm between a baby steps foreign fix i.

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"fannie mae" Discussed on Motley Fool Money

Motley Fool Money

01:57 min | 2 years ago

"fannie mae" Discussed on Motley Fool Money

"In our overall financial system if the big banks on wall street operated on the same level that they that advocacy's absolutely i mean we didn't put this particular fact and the film um um but advocates who default rate on loans his one 20th the national average for bank um i mean they they they know how to make loans you know um but uh the da's office decided because there was no real defaults to focus on in this trial they decided that the real victim in this trial was to be fannie mae you know and abacus did and now again does a lot of business with fannie mae because of the nature of a lot of the loans they do which are too you know people up more limited economic means and so a lot of their loans end up at fannie mae and fannie mae the alleged victim couldn't wait really for this trial to be over that they could get back in business with abacus because they were such good clients for them so it i mean you know if you made this up and put it in a fiction film people would sorta laugh and say oh come on you know that's not plausible but you know it did happen and one of the things that was so remarkable to me and and our team on this is is that this is a story um that no one was really reporting on in the mainstream media at all including the venerable new york times uh they did exactly two articles on the entire trial the uh the spectacle of the indictment with the employees chained together and the verdict which you know one of so it is one of the pleasures i think of watching this film is is that most people will come to it have no idea about this case and what happened and i'm just so glad that we had the opportunity to tell us coming up.

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"fannie mae" Discussed on Intercepted with Jeremy Scahill

Intercepted with Jeremy Scahill

02:02 min | 2 years ago

"fannie mae" Discussed on Intercepted with Jeremy Scahill

"Mama to sell all of their their holdings in fannie mae and freddie mac and hey i g the us economy would have gone down what would it look like if we were to radically reorganize us society under a philosophy or an ideology rooted in marxism or the social good was actually up a priority in this country rather than sort of every one fend for themselves what would that mean in a country as big as populated as as the united states by put it sort of for crudely i think the future of the us insofar as it has a radical future lies more with some soared of what i would call them as nonideological anna ksm i don't think that it's ready for the kind of collective endeavor that would really be required to confront till the power of veto the federal reserve and find an alternative either figures right eddie for thinking about a mass movement of some kind what will actually started the redefine how the economy works i think if there's going to be any real kind of left it's gonna be a kinda socialist a anarchists kind of left politics it will emerge which has an awesome of many redeeming features i'm coming out of the marxist history was supposed to be very hostile isn't but i know greater appreciation for the anna kiss tradition iit was an ideological area of overlap there that has something which will be distinctive uh two were us history and culture and i think we have to recognize the significance and importance of that history there is no plausible path to that short of a complete collapse of the capitalist state in the united states imai wrong one now i i think that one of the things that is going on our.

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"fannie mae" Discussed on KBNP AM 1410

KBNP AM 1410

01:59 min | 2 years ago

"fannie mae" Discussed on KBNP AM 1410

"A lawyer but i've worked in three investment banks have worked in a big commercial and consumer bank and now at fannie mae so i have a pretty good perspective on all the things that were going up leading up to the crisis and i think fundamentally what happened was just a gross deterioration of credit standards in the mortgage markets and that was a function of a lot of things uh but basically what happened to fannie mae was that you know fannie mae is different than most of the other actors in the market it actually stands behind the mortgages that it buys okay so we actually w what do you mean stands behind so we we literally guarantee all the principal and interest payments on all the mortgages that we acquire and put into mortgagebacked securities so when a an investor when when a buyer one of our mortgagebacked securities vise that's kurdi they're not taking any credit risk they're taking which called prepayment speed risk and they're taking interest rate rask they're not taking the credit risk were taking all the credit risk so in it so monday the other participants in the mortgage market in the years leading up to the crisis they were essentially just conduit so they were taking the credit risk and they were packaging it up and selling it off to investors but not doing frankly a very good job of determining what that credit risk really waas and unfortunately many the investors in those other private what's called private label securities they weren't really doing a very good job of inspecting that either of their basically just relying on credit rating agencies and others to just tell them that he had these are going to be money good so who kinda standards really deteriorated and we saw that the advent of liar loans we saw the uh the proliferation of many different sorts of risks they got layered on top one another uh we we ended up with no documentation loans those things are all really bad practices i wasn't afeni may in the years leading up to all that but my impression is that the company tried to resist uh uh getting into that part of the market but that became an overwhelming part of the market and i think and but in.

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"fannie mae" Discussed on KBNP AM 1410

KBNP AM 1410

01:31 min | 2 years ago

"fannie mae" Discussed on KBNP AM 1410

"A new bank to get them and new alone at the the end of the five years were get the old bank to renew the loan they lost their home so a lot of people made their payments through the depression but they got foreclosed on so fdr came up with this great idea that said look we need to have an institution that will ensure that there's liquidity in the mortgage market at all times in in all markets across the country and he also came up with this idea that we should have longterm fixedrate mortgages a thirty year fixed rate mortgage which most americans just take for granted but rationally one of only two countries in the world that have thirty year fixed rate mortgages none of which the on the other one i think is uh brush is a belgium and the and the but that the key to that is that it allows uh the the existence of fannie mae ensures that people will be able to have access to credit all the time and and that's been a critical a cornerstone of the us housing market ever since and in 1980 one things changed for you well in 1980 when the company was privatize originally fannie mae was a was a government agency uh were not a government agency already we have a uh a congressionally granted charter uh that gives us a a set of public purposes that were supposed to fulfill which essentially as to provide liquidity to the mortgage markets all over the country at all times um and then at the same time we are we are to run the company and up privatesector sort of way with commercial orientation and worldclass risk management.

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"fannie mae" Discussed on Knowledge@Wharton

Knowledge@Wharton

01:30 min | 3 years ago

"fannie mae" Discussed on Knowledge@Wharton

"The beast and what you're saying how how did you see the mortgage ecosystem has fared during the past almost decade that the gnc's have been under kinds of each ship and do you think that a high degree of regulation should continue our is more competition a possible solution right so it's not a surprising but the last 10 years of probably been the most stable time period in the mortgage market history of lista from the time i've been involved which is from the early 90s relate '80s and then i think the no ten or twenty years of history i know before that and so some of that may just be sort of a hangover from the crisis and people are more conservative but i think a lot of it has to do with the way that fannie mae and freddie mac have been regulated to stick to their knitting and provide consistent set of services across the mortgage market and so i think it's important to keep a fair amount of that regulation in place to provide that stability about it would be very good to start bringing in additional capital right now you and i as taxpayers are on the risk on the are taking the risk of further losses if we go through another downcycle and it would be nice to get private capital into taking that position the do think the jia sees that get too big and get into trouble should be allowed to fail or like some banks are the too big to fail.

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