FHA Steals Fannie’s Thunder on Low Down Payment Loans
National Mortgage News, Feb. 19, 2016–Collins Brian
Fannie Mae’s low down payment product has fallen far short of expectations, the company acknowledged Friday. Federal Housing Finance Agency Director Mel Watt announced the initiative at the 2014 Mortgage Bankers Association conference, saying it would “increase access for creditworthy but lower-wealth borrowers.”
