eCreditDaily
The critics of a new program from mortgage giants Fannie Mae and Freddie Mac are crying foul and declaring that a rerun of the housing market bubble could be in the works.
Are tightened lending standards and stricter oversight of Fannie and Freddie sturdy enough to withstand this round of programs to allow low-income borrowers a shot at homeownership?
Whichever side you fall in this debate, the concerns should be heard, if anything to avoid anything close to the 2007-2008 crisis peak.
Mortgage financing giants Fannie Mae and Freddie Mac, which do not lend but purchase most home loans for repackaging, are launching programs that will guarantee loans with down payments of as little as 3 percent.
