Reply to Hike in payments for good-credit homebuyers to subsidize high-risk mortgages

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[quote=Anonymous][quote=Anonymous]I think this article does a better job: https://nypost.com/2023/04/16/how-the-us-is-subsidizing-high-risk-homebuyers-at-the-cost-of-those-with-good-credit/

and you can see the fee table here:

[img]https://i.imgur.com/cADChod.png[/img]

[/quote]

Fee table and other info is a link in the article https://singlefamily.fanniemae.com/media/9391/display
[b]Fannie Mae LLPA waivers:[/b]
HomeReady® loans 900
Loans to first-time homebuyers with qualifying income ≤100% area median income (AMI) or 120% AMI in high-cost areas NA
Loans meeting Duty to Serve requirements 
(Purchase and limited cash-out refinances, principal residences with total qualifying income ≤100% AMI)
• Manufactured housing including MH Advantage®
• Rural housing - loans in high needs rural regions
• Loans to Native Americans on tribal lands
• [b]Loans originated by “small financial institutions”[/b]
• Affordable housing preservation loans – loans financing ENERGY STAR® certified improvements, loans with 
shared equity

120% Area medium income for 1 in DC might be over 110k and for 4 over 150k.  So I found a 2020 list of what were the official small financial institutions- that was over 8000 originators. Scroll down and you ca click on the link https://www.fhfa.gov/DataTools/Downloads/Pages/Duty-to-Serve-Eligibility-Data.aspx[/quote]

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