Tag Archives: freddie mac new york loans david paterson news subprime

Freddie Mac Will Stop Buying NY Subprime Loans

From Bloomberg
Freddie won’t buy loans dated on or after Sept. 1 that meet the state’s subprime definition, the McLean, Virginia-based company said today in a lender bulletin on its Web site. New York Governor David Paterson last week signed new foreclosure and lending laws that tighten legal protections for borrowers.
The legislation holds mortgage buyers like [...]