{"id":21,"date":"2011-02-11T17:20:29","date_gmt":"2011-02-11T17:20:29","guid":{"rendered":"http:\/\/riverbankfinance.com\/blog\/?p=21"},"modified":"2012-12-10T17:49:41","modified_gmt":"2012-12-10T17:49:41","slug":"government-seeks-phase-out-of-fannie-and-freddie","status":"publish","type":"post","link":"https:\/\/riverbankfinance.com\/blog\/government-seeks-phase-out-of-fannie-and-freddie\/","title":{"rendered":"Government seeks phase out of Fannie and Freddie"},"content":{"rendered":"<p><a href=\"https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2011\/02\/fanniemae.jpg\"><\/a><a href=\"https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2011\/02\/fanniemae.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-23\" title=\"fannie-mae\" src=\"https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2011\/02\/fanniemae-300x210.jpg\" alt=\"Fannie Mae Logo\" width=\"180\" height=\"126\" srcset=\"https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2011\/02\/fanniemae-300x210.jpg 300w, https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2011\/02\/fanniemae.jpg 360w\" sizes=\"auto, (max-width: 180px) 100vw, 180px\" \/><\/a>The\u00a0talking heads\u00a0have been weighing in on\u00a0a new report that came\u00a0out today\u00a0by the Treasury Dept.\u00a0\u00a0This\u00a0report is called the &#8220;White Paper&#8221;.\u00a0 The White Paper report is going to be given to your\u00a0elected officials\u00a0so that they can figure out how to\u00a0get the pseudo-government entities of Fannie-Mae and Freddie-Mac out of the mortgage business.\u00a0 The government wants to lower their risk of owning so many mortgages by steadily increasing fees enough to make their mortgage impractical to get by the consumer.\u00a0 This would\u00a0then encourage the private market to\u00a0ride in on their white horse and fill in this void.\u00a0 The plan calls for a long term phasing out of the government rather than a rash exit.\u00a0<\/p>\n<p>This report also suggests that government backed mortgages would have tighter guidelines making them tougher to get.\u00a0 For example they are purposing to lower the conforming loan limits already in place and requiring a higher down payment (likely 10%).\u00a0 The government would still be able to prop up the mortgage marketplace in case of catastrophic financial events similar to that of Sept 2008 collapse.<\/p>\n<p><a href=\"https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2011\/02\/freddie_mac_logo_new.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-26\" title=\"freddie_mac_logo\" src=\"https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2011\/02\/freddie_mac_logo_new-300x225.jpg\" alt=\"Freddie Mac Loans\" width=\"180\" height=\"135\" srcset=\"https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2011\/02\/freddie_mac_logo_new-300x225.jpg 300w, https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2011\/02\/freddie_mac_logo_new.jpg 340w\" sizes=\"auto, (max-width: 180px) 100vw, 180px\" \/><\/a>What does this all mean to you.\u00a0 Short term<a href=\"https:\/\/riverbankfinance.com\/blog\/wp-content\/uploads\/2011\/02\/Fannie-Mae-Freddie-Mac.gif\"><\/a>, probably nothing because the legislation has to be passed by the government and they say that may take 2 years.\u00a0 Long term though, it shows that the government wants you to have more equity in your home so plan for larger down payments in the future and more costly loans.\u00a0 Stay tuned&#8230;.\u00a0 Josh<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The\u00a0talking heads\u00a0have been weighing in on\u00a0a new report that came\u00a0out today\u00a0by the Treasury Dept.\u00a0\u00a0This\u00a0report is called the &#8220;White Paper&#8221;.\u00a0 The White Paper report is going to be given to your\u00a0elected officials\u00a0so that they can figure out how to\u00a0get the pseudo-government entities of Fannie-Mae and Freddie-Mac out of the mortgage business.\u00a0 The government wants to lower<a class=\"excerpt-read-more\" href=\"https:\/\/riverbankfinance.com\/blog\/government-seeks-phase-out-of-fannie-and-freddie\/\" title=\"ReadGovernment seeks phase out of Fannie and Freddie\">&#8230; Read more &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[306,1],"tags":[],"class_list":["post-21","post","type-post","status-publish","format-standard","hentry","category-home-affordable-refinance-program-2","category-local-michigan"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/posts\/21","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/comments?post=21"}],"version-history":[{"count":6,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/posts\/21\/revisions"}],"predecessor-version":[{"id":29,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/posts\/21\/revisions\/29"}],"wp:attachment":[{"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/media?parent=21"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/categories?post=21"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riverbankfinance.com\/blog\/wp-json\/wp\/v2\/tags?post=21"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}