Freddie and Fannie Changes – Single Security Moving Forward; Upcoming Events

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Posted To: Pipeline Press

“It doesn’t matter if you are rich or poor, as long as you have money.” Banks are where the money is, and plenty of them are paying attention to Congress. Eliminate Dodd-Frank? No. Revise? Perhaps. The most significant effort to revise the Dodd-Frank Act has bipartisan support, and we have a co-sponsored Senate bill . The proposed legislation mostly addresses regulations on small and midsize banks – in the future community banks or credit unions with less than $10 billion in assets could offer mortgages outside the typical Qualified Mortgage rule so long as they don’t sell that mortgage but keep it in-house . By holding that mortgage on the books, it would be deemed a Qualified Mortgage. Fannie, Freddie, Conventional Conforming Updates There are too many for just…(read more)

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