What year did Fannie Mae start?
WHAT YEAR DID FANNIE MAE START?
In the business of underwriting mortgages for condominiums, Fannie Mae's guidelines dictate that certain criteria be met. As lending markets constrict, some lenders deny loans based on the 'fine print', some of which can be found in the full condominium review of the Fannie Mae guidelines. Otherwise, a less complete review -- the limited review -- can qualify potential buyers and some condominium associations for Fannie Mae approvals. You can review the complete Fannie Mae…
The main difference between Fannie Mae (FNMA; Federal National Mortgage Association) and Freddie Mac (FHLMC; Federal Home Loan Mortgage Corporation) is that Fannie May primarily buys mortgages issued by banks and Freddie Mac primarily buys mortgages issued by thrifts. A secondary difference between the two is that Fannie Mae started in 1938 as part of the "New Deal" and Freddie Mac started in 1970 in order to create competition in the secondary mortgage market.
You are looking for a mortgage lender that will allow a mortgage even though you have been self employed for only 12months?
If you choose a Fannie Mae lender then the requirement for self employed is 6 months into the prior tax year and Freddie mac is one day. The problem occurs is that a self employed person often shows income less than minimum wage which does not allow them to qualify for much of a mortgage. If you show strong adjusted gross income, high credit scores, and have money for at least 5 percent down, then…
From this page : http://lmhelp.velocify.com/entries/21662265-Fannie-Mae-3-2-FM3-2-FannieMae-File-Format The Fannie Mae file format is used for many integrations in the mortgage industry. This format can be exported from Velocify and then imported quickly and easily into many Loan Origination Systems (LOS) such as Calyx Point, Encompass, PCLender, etc. This format is a universally accepted mortgage loan application format. It is also used for integrations with pricing engines.
Part of Roosevelt's depression recovery program. It was one of many "GSE" or government sponsored enterprises. Fannie Mae was later privatized. Greenspan and Bernanke have described Fannie Mae and Freddie Mac as private corporations, having an ambiguous relationship with our the federal government. As private corporations, they could generously reward their CEO's during the housing boom and have limited disclosure of their loans. Obviously, the take over removes this ambiguity. See: http://en.wikipedia.org/wiki/Fannie_Mae
Fannie Mae is a government sponsored enterprise (GSE) which helps by providing mortgages to American house owners. It trades loans that are already given to consumers to speculators. Until july 2008 low mortgage rates could be offered to house owners since the rates are inversely proportional to "debt securties" such as stocks. However, when stocks wents down, the rates on the mortgages went up, and this has brought many American house owners mortgaged by Fannie…
There are a dozen or more websites which specifically help people find Fannie Mae foreclosures in your local area. They also hold listings of these foreclosures. Another option is to contact local realtors and request information on recent foreclosures they may have knowledge of, but they will likely be reluctant to help you as they know they can get more money out of it.