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What the Takeover Means for Your Mortgage
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Debatable. Fannie and Freddie want borrowers with a 750 credit score and a 20 percent down payment, Cecala said. But the government takeover could prompt the firms to bend a bit, he added. If that happens, borrowers could see a shift by the end of the year, Cecala said. "The underwriting standards could be more flexible. They are very rigid now," he said.
But Lewis said any change to lending standards is doubtful. Loosening standards -- even a little -- could spook investors and ultimately cost taxpayers more, he said.
-- Renae Merle
