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Freddie Mac Corrects the New York Times
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You're Now Reading:
Freddie Mac Corrects the New York Times
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
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Freddie Mac Corrects the New York Times
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March 9, 2011 (Chris Moore)
mortgage-spanked-image
Freddie Mac has posted a chart on its website in response to information that it feels was erroneous in an article by the New York Times. In the article, the author Binyamin Appelbaum, claims that Fannie Mae and Freddie Mac had slashed the requirements for down payments in recent years and that two-thirds of the borrowers whose loans were guaranteed by the companies from 1997 to 2005 made a down payment of less than 10 percent. Freddie Mac decided to set the record straight.

In a simple statement, Freddie Mac said this on its website:

“Only 9 percent of borrowers made down payments of 10 percent or less on mortgages Freddie Mac bought between 1997 and 2005, not the two-thirds estimate erroneously made in recent media reports.”

mortgage-freddie-mac-nyt-image

The article is titled “Without Loan Giants, 30-Year Mortgage May Fade Away.” However, the article soon degenerates into a piece about the author’s opinion of the role that Freddie Mac and Fannie Mae played in the housing crisis and although I would agree with Applebaum on the premise that they did indeed play a role, apparently his facts aren’t all right…and Freddie Mac decided to tell him so.

Furthermore, there are far more complex reasons as to why and how the housing bubble and the subsequent crisis evolved. Your government, the Federal Reserve, Wall Street, banks, investors, mortgage companies, and even the homeowners who believed the hype and purchased homes they should never have bought were complicit partners in our economic crisis.

Five years from now, the process of purchasing a home will be very different than it is today, but the problem is, the rules of tomorrow are being written today and nobody knows what the ultimate effect will be. Speculation now is just plain foolish but apparently makes for a good story.

Tags: Freddie Mac, Fannie Mae, New York Times, housing crisis, mortgage industry

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Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
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No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Home Buying
Tips
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Tips
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Calculator
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Rates

March 9, 2011 (Chris Moore)
mortgage-spanked-image
Freddie Mac has posted a chart on its website in response to information that it feels was erroneous in an article by the New York Times. In the article, the author Binyamin Appelbaum, claims that Fannie Mae and Freddie Mac had slashed the requirements for down payments in recent years and that two-thirds of the borrowers whose loans were guaranteed by the companies from 1997 to 2005 made a down payment of less than 10 percent. Freddie Mac decided to set the record straight.

In a simple statement, Freddie Mac said this on its website:

“Only 9 percent of borrowers made down payments of 10 percent or less on mortgages Freddie Mac bought between 1997 and 2005, not the two-thirds estimate erroneously made in recent media reports.”

mortgage-freddie-mac-nyt-image

The article is titled “Without Loan Giants, 30-Year Mortgage May Fade Away.” However, the article soon degenerates into a piece about the author’s opinion of the role that Freddie Mac and Fannie Mae played in the housing crisis and although I would agree with Applebaum on the premise that they did indeed play a role, apparently his facts aren’t all right…and Freddie Mac decided to tell him so.

Furthermore, there are far more complex reasons as to why and how the housing bubble and the subsequent crisis evolved. Your government, the Federal Reserve, Wall Street, banks, investors, mortgage companies, and even the homeowners who believed the hype and purchased homes they should never have bought were complicit partners in our economic crisis.

Five years from now, the process of purchasing a home will be very different than it is today, but the problem is, the rules of tomorrow are being written today and nobody knows what the ultimate effect will be. Speculation now is just plain foolish but apparently makes for a good story.

Tags: Freddie Mac, Fannie Mae, New York Times, housing crisis, mortgage industry

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

March 9, 2011 (Chris Moore)
mortgage-spanked-image
Freddie Mac has posted a chart on its website in response to information that it feels was erroneous in an article by the New York Times. In the article, the author Binyamin Appelbaum, claims that Fannie Mae and Freddie Mac had slashed the requirements for down payments in recent years and that two-thirds of the borrowers whose loans were guaranteed by the companies from 1997 to 2005 made a down payment of less than 10 percent. Freddie Mac decided to set the record straight.

In a simple statement, Freddie Mac said this on its website:

“Only 9 percent of borrowers made down payments of 10 percent or less on mortgages Freddie Mac bought between 1997 and 2005, not the two-thirds estimate erroneously made in recent media reports.”

mortgage-freddie-mac-nyt-image

The article is titled “Without Loan Giants, 30-Year Mortgage May Fade Away.” However, the article soon degenerates into a piece about the author’s opinion of the role that Freddie Mac and Fannie Mae played in the housing crisis and although I would agree with Applebaum on the premise that they did indeed play a role, apparently his facts aren’t all right…and Freddie Mac decided to tell him so.

Furthermore, there are far more complex reasons as to why and how the housing bubble and the subsequent crisis evolved. Your government, the Federal Reserve, Wall Street, banks, investors, mortgage companies, and even the homeowners who believed the hype and purchased homes they should never have bought were complicit partners in our economic crisis.

Five years from now, the process of purchasing a home will be very different than it is today, but the problem is, the rules of tomorrow are being written today and nobody knows what the ultimate effect will be. Speculation now is just plain foolish but apparently makes for a good story.

Tags: Freddie Mac, Fannie Mae, New York Times, housing crisis, mortgage industry

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.