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re: One reason the market has been slow to correct - FHA bailing out delinquent mortgages
Posted on 5/31/23 at 10:53 am to SlowFlowPro
Posted on 5/31/23 at 10:53 am to SlowFlowPro
I think it's important for those who don't know the difference between FHA and FNMA/FHMLC loans to understand.
Soooo, your conventional loans (Fannie and Freddie) represent 82% of market share, while your VA and FHA represent 18%. It's a bullshite bailout proposition, but it's impact isn't as great as one would think.
Personally, when I was lending, if someone wanted an FHA loan, I would suggest they go to another lender. I did not want to frick with the additional 3 inches of paperwork.
Soooo, your conventional loans (Fannie and Freddie) represent 82% of market share, while your VA and FHA represent 18%. It's a bullshite bailout proposition, but it's impact isn't as great as one would think.
Personally, when I was lending, if someone wanted an FHA loan, I would suggest they go to another lender. I did not want to frick with the additional 3 inches of paperwork.
1
Posted on 5/31/23 at 10:56 am to The Goat
quote:
but it's impact isn't as great as one would think.
It's more than enough to affect prices on a larger scale. When bubbles pop, they don't start with a major event typically. Issues arise in smaller areas and those effects work their way up.
If 18% of the market had a 10% decline in value, that's going to have a major impact for all loans/areas.
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