May
12

In the News May 12, 2013

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5/7/13  Fannie, Freddie will only purchase ‘qualified mortgages’ starting next year:  Starting next January, Fannie Mae and Freddie Mac’s federal regulator will no longer allow them to purchase interest-only loans, loans with 40-year terms, or those with points and fees exceeding thresholds for “qualified mortgages” established by the Dodd-Frank Wall Street Reform and Consumer Protection Act. Adoption of the new limitations on Jan. 10, 2014 “is in keeping with (the Federal Housing Finance Agency’s) goal of gradually contracting (Fannie and Freddie’s) market footprint and protecting borrowers and taxpayers,” FHFA said. SourceFHFA

5/8/13:  Hundreds Pack Upper East Side Church to Protest Marine Transfer Station:  Hundreds of residents blasted the planned East 91st Marine Transfer Station Tuesday, saying the project would leave poor and elderly residents vulnerable to high levels of pollution and vermin.  See full article at DNAInfo.com

 

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