http://www.choicefinance.net/blog/2008/03/05/home-purchase-in-a-declining-market-5-more-required/ Choice Finance® Tue, 06 Jan 2009 10:53:24 +0000 http://wordpress.org/?v=2.3.2 http://www.choicefinance.net/blog/2008/03/05/home-purchase-in-a-declining-market-5-more-required/#comment-1226 FNMA Fannie Mae’s “geography penalty” | Mortgage Blog Wed, 11 Jun 2008 14:01:21 +0000 http://www.choicefinance.net/blog/2008/03/05/home-purchase-in-a-declining-market-5-more-required/#comment-1226 [...] Fannie Mae has announced that it is rolling back its rule requiring additional downpayments in areas that it deemed at risk of declining home prices.  Freddie Mac has indicated that it is tempering a similar policy.  The recent rule change discards a policy in existence since last December that insisted an additional 5% downpayment be anted up on top of whatever amount was normally required for that particular loan program if the property was in a zip code determined to be at risk of price declines. [...] […] Fannie Mae has announced that it is rolling back its rule requiring additional downpayments in areas that it deemed at risk of declining home prices.  Freddie Mac has indicated that it is tempering a similar policy.  The recent rule change discards a policy in existence since last December that insisted an additional 5% downpayment be anted up on top of whatever amount was normally required for that particular loan program if the property was in a zip code determined to be at risk of price declines. […]

]]>