Housing Finance Reform: Reduced Loan Limits, Larger Down Payments, Higher FHA MIP Fees

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Posted To: MND NewsWire

The long-awaited report on the future of housing finance has been released by the Obama Administration. Below is the presser.... I highlighted some talking points. The first thing to take away from this paper is the Administration's intention to wind down Fannie and Freddie on a responsible timeline. That tells you this reform/winding down process will take many years and much debate. 5 to 7 years according to Treasury Secretary Tim Geithner. There's nothing wrong with that though. Slow and steady works as long as lenders have funding liquidity in the process. The main goal is to get housing finance reform done right....the first time, this market can only take so much more stress, rewriting regs repeatedly would be detrimental to the overall housing recovery process. Next on the list of observations...(read more)

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Source: www.mortgagenewsdaily.com

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