In-Depth: Government Sponsored Enterprises (GSEs)
NAR Issue Summary
Review NAR policy, and the legislative/regulatory outlook regarding GSEs
Government Sponsored Enterprises >
Mortgage Loan Limits >
Federal Conservatorship of Fannie Mae and Freddie Mac
On Sunday, September 7, 2008, the Director of the Federal Housing Finance Agency (FHFA) , James B. Lockhart, placed Fannie Mae and Freddie Mac into conservatorship, as authorized by the Housing and Economic Recovery Act of 2008 (HERA).
Continue reading >
NAR's 2010 GSE Reform Recommendations
NAR recommends restructuring Fannie Mae and Freddie Mac (Government-Sponsored Enterprises) in a manner that ensures the continual flow of capital into the housing and mortgage markets in all economic conditions, and removes the current private profit and public loss structure.
GSE Key Points based on NAR Principles > (PDF: 403K)
Conforming Loan Limits
On Nov. 17, 2011. the U.S. Congress kept the loan limits for Fannie Mae and Freddie Mac-backed mortgages, which had been previously enacted on Oct.1, 2011, at 115 percent of local area median home prices, up to $625,500, as part of H.R. 2112, the so-called minibus conference report combining three annual spending bills with another stopgap funding measure for the rest of the federal government. NAR fought proposals to roll the Fannie and Freddie conforming loan limits back to a single $417,000 nationwide standard. This proposal would have reduced loan limits in 124 counties in 21 states.
Find the loan limits for your area (FHFA.gov) >
Making Home Affordable Program
On February 18, 2009, President Obama announced his Making Home Affordable Program, designed to help up to 7-9 million families avoid foreclosure by restructuring or refinancing their mortgages.
Fannie Mae Home Affordable Modification Program Website >
Freddie Mac Home Affordable Modification Program Website >
Fannie Mae - Home Affordable Refinance Website >
Freddie Mac - Relief Refinance Mortgages >
Visit http://www.makinghomeaffordable.gov/ for more information.
Short Sales
Due to current economic conditions, the number of short sale properties on the market is rising. The increasing number of short sales on the market presents challenges for REALTORS®.
Freddie Mac's Short Sales Commission Policy > (PDF: 128K)
Fannie Mae's Short Sales Commission Policy > (PDF: 298K)
Visit www.realtor.org/shortsales for more information.
