1. Refinancing Underwater Borrowers - A new refinancing option for FNMA underwater borrowers that will allow for
refinancing up to 120% of a property's current value.
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2. Housing Finance Agencies - A renewal and expansion of FNMA's partnership with the state Housing Finance Agencies
to provide $10 Billion in financing for qualified, first time home buyers.
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3. Stabilizing Hard Hit Neighborhoods - In partnership with Self Help Credit Union, a new initiative that allows families in hard hit communities to reside in foreclosed properties on a rent to own basis.
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4. Jumbo Conforming Loans - Pricing for new jumbo conforming loans that will be flat to conforming for portfolio asset acquisition through the end of the year.
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5. HomeStay - Working with lenders, loan servicing companies, and policy makers to respond to the housing and mortgage market crisis through the HomeStay initiative.
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6. National Down Payment Policy - A new, single down payment policy in all communities across the nation for conventional, conforming mortgages FNMA will purchase or guarantee.
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7. Affordable Rental Housing - Expanding liquidy, stability and affordability by increasing FNMA participation in key segments of the multifamily market.
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| For more information, call Fannie Mae at 1-800-732-6643 |
| More to follow… |
