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Author: CCinOC Big gold star, 5000 posts Top Recommended Fools Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127237  
Subject: Re: Not Qualified Date: 11/27/2013 1:34 AM
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But if you're looking at loan rates that the feds are keeping low and possible tax deductions - the main audience of those the government is trying to attract really isn't the people who could pay cash for a home and still have assets to live off of.

According to Edward DeMarco, acting director of the Federal Housing Finance Agency, which is the conservator for Fannie Mae and Freddie Mac, the FHFA's mandate from Congress is to preserve and conserve the assets of Fannie Mae and Freddie Mac. "[I]n their current state, that translates directly into minimizing taxpayer losses. We are also charged with ensuring stability and liquidity in housing financing and maximizing assistance to homeowners."

IOW, they don't have a "main audience." Whoever qualifies for a loan--the maximum amount being dictated by where the subject property is located--they will provide the liquidity therefor.

BTW, DeMarco backed off from lowering the maximum loan amounts, which he vowed he would do in 2014.

http://tinyurl.com/poxkzuv
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