Skip to main content

Second Verse, Same As The First

We had to check the date on this Bloomberg post very, very carefully to make sure it wasn't off by a year. It is not:

Fannie Mae, the mortgage-finance company under U.S. government control, will loosen rules for homeowners seeking to lower their loan payments by refinancing.
Fannie Mae will drop some credit-score requirements, reduce income-documentation standards and waive the need for appraisals in some cases, according to a notice yesterday to lenders posted on the Washington-based company's Web site. The changes apply to loans that the company owns or guarantees. (Emphasis ours).

The interesting thing about waking up every morning in a different Kafka piece is trying to guess which morning you are in Der Gruftwächter. This seals it. It is today.
Fannie Mae to Loosen Rules for Home-Loan Refinancing [Bloomberg]


Not as sturdy as it looks.

Fannie Mae, Freddie Mac Are Back And, Uh, Pretty Much The Same As Before

Turns out they just needed $187 billion and 10 years in time out, not any fundamental changes.