Fannie, Freddie Will Only Buy Qualified Mortgages, FHFA Says

Law360, New York (May 6, 2013, 5:14 PM EDT) -- The Federal Housing Finance Agency on Monday said that Fannie Mae and Freddie Mac would only be allowed to purchase so-called qualified mortgages when the new standard comes into effect in January.

Under the new standard, Fannie Mae and Freddie Mac will only be able to purchase and securitize mortgages that qualify to an exemption to the Consumer Financial Protection Bureau's ability to repay rule, which the federal consumer finance watchdog finalized in January.

Fannie and Freddie will be able to purchase amortizing, 30-year mortgages that comply with the CFPB's 3 percent cap on points and fees beginning Jan. 10, when...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!