Freddie Mac Corrects the New York Times
Freddie Mac Corrects the New York Times
Freddie Mac Corrects the New York Times
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March 9, 2011 (Chris Moore)
mortgage-spanked-image
Freddie Mac has posted a chart on its website in response to information that it feels was erroneous in an article by the New York Times. In the article, the author Binyamin Appelbaum, claims that Fannie Mae and Freddie Mac had slashed the requirements for down payments in recent years and that two-thirds of the borrowers whose loans were guaranteed by the companies from 1997 to 2005 made a down payment of less than 10 percent. Freddie Mac decided to set the record straight.

In a simple statement, Freddie Mac said this on its website:

“Only 9 percent of borrowers made down payments of 10 percent or less on mortgages Freddie Mac bought between 1997 and 2005, not the two-thirds estimate erroneously made in recent media reports.”

mortgage-freddie-mac-nyt-image

The article is titled “Without Loan Giants, 30-Year Mortgage May Fade Away.” However, the article soon degenerates into a piece about the author’s opinion of the role that Freddie Mac and Fannie Mae played in the housing crisis and although I would agree with Applebaum on the premise that they did indeed play a role, apparently his facts aren’t all right…and Freddie Mac decided to tell him so.

Furthermore, there are far more complex reasons as to why and how the housing bubble and the subsequent crisis evolved. Your government, the Federal Reserve, Wall Street, banks, investors, mortgage companies, and even the homeowners who believed the hype and purchased homes they should never have bought were complicit partners in our economic crisis.

Five years from now, the process of purchasing a home will be very different than it is today, but the problem is, the rules of tomorrow are being written today and nobody knows what the ultimate effect will be. Speculation now is just plain foolish but apparently makes for a good story.

Tags: Freddie Mac, Fannie Mae, New York Times, housing crisis, mortgage industry

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Helpful Tools
Mortgage
Calculator

Estimate your monthly mortgage payment
Auto Loan
Calculator

Determine how much car you can afford before buying
Learn About
Mortgage Loans

Learn about the different types of home loans
15 Year vs 30 Year
Loan Comparison

Compare 15 year and 30 year mortgage loans
Todays Mortgage
Rates

See today's mortgage rates. Shop, compare and save.

March 9, 2011 (Chris Moore)
mortgage-spanked-image
Freddie Mac has posted a chart on its website in response to information that it feels was erroneous in an article by the New York Times. In the article, the author Binyamin Appelbaum, claims that Fannie Mae and Freddie Mac had slashed the requirements for down payments in recent years and that two-thirds of the borrowers whose loans were guaranteed by the companies from 1997 to 2005 made a down payment of less than 10 percent. Freddie Mac decided to set the record straight.

In a simple statement, Freddie Mac said this on its website:

“Only 9 percent of borrowers made down payments of 10 percent or less on mortgages Freddie Mac bought between 1997 and 2005, not the two-thirds estimate erroneously made in recent media reports.”

mortgage-freddie-mac-nyt-image

The article is titled “Without Loan Giants, 30-Year Mortgage May Fade Away.” However, the article soon degenerates into a piece about the author’s opinion of the role that Freddie Mac and Fannie Mae played in the housing crisis and although I would agree with Applebaum on the premise that they did indeed play a role, apparently his facts aren’t all right…and Freddie Mac decided to tell him so.

Furthermore, there are far more complex reasons as to why and how the housing bubble and the subsequent crisis evolved. Your government, the Federal Reserve, Wall Street, banks, investors, mortgage companies, and even the homeowners who believed the hype and purchased homes they should never have bought were complicit partners in our economic crisis.

Five years from now, the process of purchasing a home will be very different than it is today, but the problem is, the rules of tomorrow are being written today and nobody knows what the ultimate effect will be. Speculation now is just plain foolish but apparently makes for a good story.

Tags: Freddie Mac, Fannie Mae, New York Times, housing crisis, mortgage industry

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Helpful Tools

March 9, 2011 (Chris Moore)
mortgage-spanked-image
Freddie Mac has posted a chart on its website in response to information that it feels was erroneous in an article by the New York Times. In the article, the author Binyamin Appelbaum, claims that Fannie Mae and Freddie Mac had slashed the requirements for down payments in recent years and that two-thirds of the borrowers whose loans were guaranteed by the companies from 1997 to 2005 made a down payment of less than 10 percent. Freddie Mac decided to set the record straight.

In a simple statement, Freddie Mac said this on its website:

“Only 9 percent of borrowers made down payments of 10 percent or less on mortgages Freddie Mac bought between 1997 and 2005, not the two-thirds estimate erroneously made in recent media reports.”

mortgage-freddie-mac-nyt-image

The article is titled “Without Loan Giants, 30-Year Mortgage May Fade Away.” However, the article soon degenerates into a piece about the author’s opinion of the role that Freddie Mac and Fannie Mae played in the housing crisis and although I would agree with Applebaum on the premise that they did indeed play a role, apparently his facts aren’t all right…and Freddie Mac decided to tell him so.

Furthermore, there are far more complex reasons as to why and how the housing bubble and the subsequent crisis evolved. Your government, the Federal Reserve, Wall Street, banks, investors, mortgage companies, and even the homeowners who believed the hype and purchased homes they should never have bought were complicit partners in our economic crisis.

Five years from now, the process of purchasing a home will be very different than it is today, but the problem is, the rules of tomorrow are being written today and nobody knows what the ultimate effect will be. Speculation now is just plain foolish but apparently makes for a good story.

Tags: Freddie Mac, Fannie Mae, New York Times, housing crisis, mortgage industry

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.