Recently the FHFA announced that it would begin to allow the GSEs to finance loans with as little as 3% down payments. This news was received with mixed reviews. Some view it as an improvement in access for entry-level buyers while others see it as a step down the path of loose lending that brought down the market in the mid-2000s. In fact, this step is only a modest change that will likely be done under common sense restrictions to augment successful lending with a small impact on market. However, it should provide a positive signal to lenders.
Posted on: Wed, 12 Nov 2014 22:13:33 +0000
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