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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 383.12

+0.8%

Nov 26 4:00 PM EST

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To: TobagoJack who wrote (51968)	7/1/2009 10:03:35 PM
From: Elroy Jetson	Read Replies (1) of 218050

This is the gist if the concept, get money from the borrowers now - not later. Fannie Mae and Freddie Mac own or guarantee more than half of the single-family mortgages in the U.S. The government- chartered companies were seized by regulators in September amid concern that their capital wasn’t sufficient to weather the worst housing slump since the Great Depression. The companies each said in separate statements today that borrowers with loan-to-value ratios of between 105 percent and 125 percent must refinance through their existing mortgage company to qualify. Fannie Mae is additionally paying lenders an incentive equal to half a percentage point, to encourage refinancings to shorter terms of 20 or 25 years. Freddie Mac said it is also offering a “special price incentive” as well to borrowers that accept a shorter repayment schedule. bloomberg.com .

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