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Hi guys good afternoon my name is Andres Morales I'm a local real estate broker with Bonaventure Realtors here in California I'm also licensed in the state of Florida in the state of Washington so I want I received an email from a local loan officer and they send me some really good information about some sending any changes that are happening July 29 2021 some of the changes that are going to be Fannie Mae's gonna enhance or change within their underwriting guidelines are going to be changes to the debt to income ratio some changes to disputed accounts some changes to self-employment documentation some changes to the way the student loan cash out refinance is handled as well as some changes to the arm loan to value increases that they're going to be having as well as treatment on some time shares or on how they treat a due time shares on your credit report so let's go ahead and get started okay so starting July 29th the debt to income ratio currently which is 45 is the maximum that the ratio a borrower can have in order to qualify for a loan will be increased to a new maximum of 50 percent so the debt to income ratio is exactly that it's the lender uses the debt divided by the income in order to come out with a percentage that percentage is what they use in order to qualify for a loan currently the max is 45% if you do have your debt to income ratio is higher than now let's say 45 and 50% most likely will go for an exception depending on underlying circumstances and then from there the lender could approve you however with the new enhancement you can go all the way up to 50 percent of your income in order to qualify for the new purchase of your home which is great because it's going to increase considerably the amount of buyers that are available for this market and I think it's going to create a lot more demand for the current supply the number two is for disputed accounts so in the old days bars will bombard the current bureaus disputing any derogatory credit items the bureau's had to remove the items while I was being investigated which provided a small window for the for some bars to slip in and get a loan Fannie Mae and Freddie Mac got rights this loophole and said okay if you have dispute wing we're not going then we're not going to underwrite the loan until the dispute is resolved Saturday now with the new changes that are going to happen they will evaluate loan files with credit disputes and in some cases will not require there any further action so I hope you can understood that message so before people were in order to dispute things or to remove things from their credit with disputed with the credit agencies and they would.

FAQ

How much did we pay to bail out Freddie Mac and Fannie Mae?
Fannie Mae and Freddie Mac were put into conservatorship by the Federal Housing Finance Agency  (FHFA) on September 17, 2021. This meant that the two  government-sponsored enterprises (GSEs) have been managed by the  government since then. The U.S. Treasury Department was authorized to purchase up to $100 billion in the GSEs' preferred stock and mortgage-backed securities (MBS).  It was supposed to be temporary, but economic conditions have not  improved enough to allow the government to sell the shares it owned and  return Fannie and Freddie to private ownership.This was the direct cost. There were also a lot other indirect costs like -$3.9 billion in CDBG grants to help homeowners in poor neighborhoods.Approval  for the Treasury Department to buy shares of Fannie's and Freddie's  stock to support stock price levels and allow the two to continue to  raise capital on the private market.Approval for the Federal  Housing Administration (FHA) to guarantee $300 billion in new loans to  keep 400,000 homeowners out of foreclosure.About $15 billion in housing tax breaks, including a credit of up to $7,500 for first-time buyers.An increase in the statutory limit on the national debt by $800 billion, to $10.6 trillion.A new regulatory agency to oversee Fannie and Freddie, including executive pay levels.Found this at - What Was the Fannie Mae and Freddie Mac Bailout?
Why is it important to get Fannie Mae and Freddie Mac out of government ownership?
Note, this answer contains no proprietary information and is based only on information that is publicly available.It really depends who you ask. Here’s the current situation:Fannie and Freddie are in conservatorship by the Federal government. It’s not quite ownership though it is similar.Fannie and Freddie are profitable. Fannie Mae just announced a 2.8 billion profit in Q1. I’m sure Freddie Mac had a similarly positive quarter unless there were accounting issues.All profits that Fannie and Freddie make go to the Treasury. In addition, they are required to reduce their “capital cushion” to zero by 2021. That means that not only do they send all their profits to the Federal government, but a portion of their retained capital.If Fannie or Freddie has a loss during a quarter, the Treasury will be on the hook for that loss, up to, I believe, about $250 billion.Investors want F&F free so that they can reap the rewards of their investments. The reason the stock prices of F&F are so low right now ($2–3/share) is because of conservatorship and the uncertainty of their future as independent companies.Many in the government want to remove the government from the equation because they don’t want to the government on the hook for potential losses if there should be another downturn. To these people, you can add those that want to wind down F&F completely to eliminate any perceived backing by the government.Employees likely want more certainty in the future of the companies.As for the general public, I don’t think most people care one way or the other. Those that do generally seem to want them shuttered, though often have misperceptions about F&F’s role in the financial crisis or the implications of closing the companies.
Fannie Mae:  How important are Fannie and Freddie to the housing industry right now?
Roughly 95% of all mortgage originations today are Agency-guaranteed (i.e. guaranteed by Fannie and Freddie). So I would say these two organizations are absolutely vital in today's housing market.
Why don't auto and credit card lenders make their underwriting process and guidelines open to the public like FHA and Fannie Mae do with mortgages?
Because they don't have to.Fannie Mae and Freddie Mac are Government Sponsored Enterprises (GSEs). As such, there are transparency requirements that they must follow. Similarly, the FHA, as a government agency, is required to disclose. I believe the VA is also open about their underwriting.But private lenders, unaffiliated with the government, may see their underwriting process as a competitive advantage or trade secret. And thus choose not to be transparent.
How do I fill out the CAT Application Form 2017?
CAT 2021 registration opened on August 9, 2021 will close on September 20 at 5PM. CAT online registration form and application form is a single document divided in 5 pages and is to be completed online. The 1st part of CAT online registration form requires your personal details. After completing your online registration, IIMs will send you CAT 2021 registration ID. With this unique ID, you will login to online registration form which will also contain application form and registration form.CAT Registration and application form will require you to fill up your academic details, uploading of photograph, signature and requires category certificates as per the IIMs prescribed format for CAT registration. CAT online application form 2021 consists of programme details on all the 20 IIMs. Candidates have to tick by clicking on the relevant programmes of the IIMs for which they wish to attend the personal Interview Process.
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