Fannie Drops the Price on IO Fixed-Rate Loans With LTVs Greater than 90 Percent
January 11, 2007
Fannie Mae is expanding the range of mortgage products it will buy with interest-only payment plans, and dropping its prices for certain of these loans that formerly went by the InterestFirst brand. The government-sponsored enterprise also tightened the underwriting standards for IO loans, bringing its requirements in line with controversial guidelines issued by…