Credit Availability for Condominium And Cooperative Purchase Field Hearing Bef
Credit Availability for Condominium And Cooperative Purchase Field Hearing Bef
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In our eReader you can find the full English version of the book. Read Credit Availability for Condominium And Cooperative Purchase Field Hearing Bef Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Credit Availability for Condominium And Cooperative Purchase Field Hearing Bef
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On the State level, particularly through SONYMA, New York's mortgage agency, we are taking positive action to address these issues. But we still need help from the federal mortgage agencies to ensure the viability of New York's co-op market.
Some progress has been made. In late 1993, Fannie Mae, the Federal National Mortgage Association, issued new, liberalized lending guidelines for co- ops in New York City, making it easier for potential buyers and shareholders to finance and refinance co-op ...loans . These guidelines, for example, enable a lender to write a loan for a building where only 51 percent of the units have been 44 sold to owner-occupiers ; the previous requirement was at least 80 percent . Other changes provided lenders with the go-ahead to make loans in buildings with minor cash flow problems, and clarified that units temporarily rented out by co-op shareholders would continue to be counted as owner-occupied for financing purposes. While Fannie Mae's liberalized co-op lending rules are only guidelines, and continue to provide individual lenders with a great deal of discretion in approving or disapproving loans, they are still a step in the right direction.
What to read after Credit Availability for Condominium And Cooperative Purchase Field Hearing Bef?
You can find similar books in the "Read Also" column, or choose other free books by Finance United States Congress House Committee On Banki to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
On the State level, particularly through SONYMA, New York's mortgage agency, we are taking positive action to address these issues. But we still need help from the federal mortgage agencies to ensure the viability of New York's co-op market.
Some progress has been made. In late 1993, Fannie Mae, the Federal National Mortgage Association, issued new, liberalized lending guidelines for co- ops in New York City, making it easier for potential buyers and shareholders to finance and refinance co-op ...loans . These guidelines, for example, enable a lender to write a loan for a building where only 51 percent of the units have been 44 sold to owner-occupiers ; the previous requirement was at least 80 percent . Other changes provided lenders with the go-ahead to make loans in buildings with minor cash flow problems, and clarified that units temporarily rented out by co-op shareholders would continue to be counted as owner-occupied for financing purposes. While Fannie Mae's liberalized co-op lending rules are only guidelines, and continue to provide individual lenders with a great deal of discretion in approving or disapproving loans, they are still a step in the right direction.
What to read after Credit Availability for Condominium And Cooperative Purchase Field Hearing Bef?
You can find similar books in the "Read Also" column, or choose other free books by Finance United States Congress House Committee On Banki to read onlineMoreLess
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