FHFA to cherry pick loans Fannie, Freddie can purchase

Julie C. Nichols General

Housingwire – Kerri Ann Panchuk

The Federal Housing Finance Agency is pulling back on the loans that Fannie Mae and Freddie Mac can purchase, noting that beginning Jan. 10, 2014, the enterprises will no longer purchase a mortgage if its not fully amortizing, has a loan term longer than 30 years or includes points and fees in excess of 3% of the total loan amount.

>> Read More: http://www.housingwire.com/news/2013/05/06/fhfa-cherry-pick-loans-fannie-freddie-can-purchase