Comment Detail
Date: N/A First Name: Lucas Last Name: Carrier Email: lcarrier@megastarfinancial.com Organization Type: other Organization: Megastar Financial Corp Comment
As a mortgage banker I like having 2 separate companies to choose from; they both operate with the same principle guidelines but they each have their own niches. For example; Freddie allows non-occupant co-borrowers to qualify for the home with just their income (Kiddy Condo or College Home for a student) where as Fannie doesn't allow just the non-occupant co-borrowers income to qualify. Freddie also has some relaxed rules for condos where the borrower isn't putting 20% down. Fannie has some niches as well but I can't think of all of them at this point and some are going away in the near future (HomePath). Unless the 2 companies can incorporate the rules that each play by I think you will see homeowners ship rates go down. I am not against combining the two into one but I hope they take the above two points into consideration.
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