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Mortgages Can Be Challenge for Green Homes
Posted on May 1st, 2010 No commentsThe mortgage market has become difficult to navigate for certain types of new residential construction, including environmentally friendly construction. Because of the lack of comparable home sales on which to base an appraisal, Fannie Mae and Freddie Mac won’t buy the mortgages from lenders for resale to investors. Read the Milwaukee Journal Sentinel article.
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Lenders May Lose Billions on Fannie, Freddie
Posted on March 5th, 2010 No commentsLenders including Wells Fargo & Co., Bank of America Corp., Citigroup Inc. and JPMorgan Chase & Co. may be forced to buy back $21 billion in faulty loans from Fannie Mae and Freddie Mac. “The agencies, which have suffered $200 billion in losses since 2007, have been cracking down on boom-era loans issues that may have been issued based on falsely stated incomes or inflated appraisals,” the Business Journal reported.