News

Fannie Mae and Freddie Mac take steps to make it easier to buy a home

June 10, 2022/

for sale home

Key Points:

  • In a historic move, Fannie Mae and Freddie Mac announced changes to battle systemic racism that has blocked people of color from homeownership.
  • Fannie Mae and Freddie Mac are rolling out a credit reporting system that factors in paying rent into creditworthiness score.
  • Other measures include down payment assistance, improved underwriting guidelines, reserve funding for emergencies and lowering mortgage insurance premiums.
Romina Ruiz-Goiriena

USA TODAY


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