Rule Changes at Fannie Mae, Freddie Could Add $400 to Monthly Payments

Fannie Mae (FNMA) and Freddie Mac (FMCC), two government-sponsored enterprises that finance more than 45% of U.S. mortgages, could raise monthly mortgage payments by $400 based on new rules being discussed in Congress. Government officials have been looking to limit the exposure U.S. taxpayers have to the lenders in case the housing market crashes again, and an analysis by Zillow Group Inc.  (Z – Get Report) suggested that those rules changes could result in mortgage bills that are hundreds of dollars steeper per month.


Source: The Street