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By admin | February 26, 2010
pPosted To: a href="/news/"MND NewsWire/a/pFreddie Mac is taking another step in the direction of historically responsible lending habits. The Enterprise today announced it would no longer offer interest only loans as of Sept. 2010. Lenders will undoubtedly enforce this guideline change well in advance of the deadline. HERE is the release: McLean, VA ndash; Freddie Mac (NYSE: FRE) announced today that on or about September 1, 2010, the company will cease purchasing and securitizing interest only mortgages, including Freddie Mac Initial Interest fixed-rate and adjustable-rate mortgages. Additional information will be provided to Freddie Mac Seller/Servicers in an upcoming Single-Family Seller/Servicer Guide bulletin. Interest only mortgages, including Freddie Mac Initial Interest mortgages, provide for interest-only payments for a specified...(a href="http://www.mortgagenewsdaily.com/02262010_freddie_mac_interest_only.asp"read more/a)pdiv style="background-color:#D4EDC9;border:1px solid #BDD4B3;padding:3px 5px 3px 6px; color:#000000;font-family:arial,sans-serif;font-size:12px;"strongForward this article via email:/strongnbsp;nbsp;a href="http://www.mortgagenewsdaily.com/channels/137322/3/forward.aspx" style="color:#3333CC;"Send a copy of this story/a to someone you know that may want to read it./div/pimg src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=137322" width="1" height="1"
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