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Loan Modification

: Mortgage Lender Implode-o-Meter

Freddie to snub exotic home loans

By Implode-Explode Heavy Industries

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Freddie Mac said that it would stop buying the fixed-rate and adjustable-rate interest-only mortgages on or about September 1, potentially dealing a painful blow to the holders of those securities, which tend to be large financial institutions. "Fannie and Freddie were the buyers of last resort," Mr Khalid said. "Whoever is holding those mortgages should take a hit."

Full post as published by Mortgage Lender Implode-o-Meter on March 01, 2010 (boomark / email).

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