Wisconsin Banking Update
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Standards Tightened for Condo Loans
Posted on August 8th, 2009 No commentsNervous about the condominium market nationwide, Fannie Mae and Freddie Mac have tightened their standards for buying condo mortgage loans from banks. As a result, banks are cutting back on condo loans, requiring bigger down payments and higher interest rates from condo buyers, the Milwaukee Journal Sentinel reported.
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