If your appraisal comes back too low - you don't have at least 10% equity for a conforming loan or 20% for a jumbo loan - you might not be able to refinance at all, at least with a loan that's packaged and sold to Fannie Mae and Freddie Mac. That means you may have to pay a much higher rate.
Congress created Fannie Mae in 1938 and Freddie Mac in 1970. For many years, these institutions prudently pursued their core mission of enhancing the availability of credit for housing.
I remember reading about Mae Jemison, that astronaut. That was immensely fantastic to me. This woman went to the moon!
I love songs, Patty Larkin, Sharon Stone, Mae West, and Marilyn Monroe.
I'm incredibly lucky to have the opportunity to bring Mae to work with me as I take on the guest role of 'Mary McGowan.'
The bailout of Fannie Mae is completely off the books. It's going to cost us hundreds of billions of dollars. Yet nobody is placing this in any type of column in accounting for federal debt.
There were absolutely circumstances where Sallie Mae was working hand-in-hand with for-profit schools and other schools in offering and putting students into risky expensive subprime loans.
My investigation found Sallie Mae put student borrowers into expensive subprime loans that it knew were going to fail.