“Tight credit policies after the housing market crash have kept too many deserving people from qualifying for mortgages.  Now the government is taking steps that it says it hopes will allow more first-time buyers and lower- and middle-income Americans to get home loans at low rates.  On Monday, Melvin L. Watt, the nation’s chief housing regulator, announced a program offering more reassurances to mortgage banks that fear they could suffer unpredictable losses on the loans they sell to the government.  Separately, he disclosed that efforts are underway to allow borrowers to receive government-backed loans with much smaller down payments than are now required.”

http://www.nytimes.com/2014/10/21/business/economy/federal-housing-finance-agency-unveils-plan-to-loosen-mortgage-rules.html?_r=0

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