Vague and undefined language in the eligibility requirements of the GSEs make it difficult for lenders to determine the mortgage eligibility of projects that include units rented on a short-term basis.
For some sellers, the curbs don’t represent much of a bump in the road. For Quicken Loans, the top GSE seller over the 12-month period, investor/second-home loans were roughly 5.5% of its sales to both Fannie and Freddie.
After warning the council about the risks posed by government money market funds, Calabria went on to point out that these funds have large exposures to Fannie Mae, Freddie Mac and the Federal Home Loan Banks.