Monday, September 6, 2010

FHFA Establishes New Housing Goals for Fannie Mae and Freddie Mac | RealEstateRama

Will this help small businesses? check full article by clicking on link.. Do you think this will help many with rental income to sustain their retirement... many cannot afford to continue renting with homes underwater.

FHFA Establishes New Housing Goals for Fannie Mae and Freddie Mac | RealEstateRama:
"The final rule revises the counting treatment in the proposed rule for loan modifications by allowing credit under the low-income refinance goal for permanent Making Home Affordable loan modifications.
FHFA does not intend for the Enterprises to undertake economically adverse or high-risk activities in support of the goals, nor does it intend for the Enterprises’ state of conservatorship to be a justification for withdrawing support from these important market segments.
As noted in the final rule, FHFA expects to take future regulatory action to address the housing goals treatment of purchases of multifamily loans that aid the conversion of properties that have affordable rents to properties that have less affordable, market rate rents. FHFA also may solicit further comments on how the housing goals can further promote susustainable homeownership and how multifamily subordinate liens can be structured to benefit low-income residents. The final rule is effective 30 days after publication in the Federal Register.
Link to Final Rule"

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