That's why I said all your knowledge is book knowledge

Recent Fannie Mae guideline has reduced the number of mortgages each individual can take to 4 houses. If a buyer has already had 4 houses, and he wants to buy a 5th one, even if a bank wants to do this business, it can't because Fannie mae guideline doesn't allow it.

Why most banks will have to abide by Fannie Mae guideline? because after the loan is made, Fannie Mae will buy the loan from the bank and bundle that and sell to secondary market.

Now you understand why someone wants to find private loans. Not because bank see the risk is so high and doesn't want to do the business, all because currently the regulation is so strict that handicapped the banks.

所有跟帖： 

• If Fannie Mae think 4 houses is too much, why wouldnt private In -山高月小- ♂ (452 bytes) () 06/26/2008 postreply 09:06:40

• In a non-recourse loan, borrower's own credit standing -miat42- ♂ (793 bytes) () 06/26/2008 postreply 09:15:52

• Now you are so ignorant. Non-resourse loan is based -山高月小- ♂ (469 bytes) () 06/26/2008 postreply 09:30:03

• You don't know what you are talking about, totally confused -miat42- ♂ (34 bytes) () 06/26/2008 postreply 09:33:33