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Here are Fannie Mae And Freddie Mac Foreclosure Guidelines Versus Government Loans:įannie Mae And Freddie Mac Foreclosure Guidelines on a deed in lieu of foreclosure and/or short-sale are four years to qualify for conventional loans. There are three types of government loans: Waiting Period Requirements On Fannie Mae And Freddie Mac Foreclosure Guidelines Versus Government Loans This is why Fannie Mae and Freddie Mac require lenders to sell them loans that only conform. With the lines paid down, the lender repeats the process and funds more loans and sells the funded loans to Fannie and/or Freddieįannie Mae and Freddie Mac will not purchase loans that do not conform to their agency mortgage guidelines.Once Fannie/Freddie buys these loans from lenders, the lender will use the proceeds to pay down their warehouse lines of credit.Once the loan is funded, lenders need to sell the loans that just funded on the secondary market to Fannie and/or Freddie.Lenders use their warehouse lines of creditto fund home mortgages.Private lenders originate and fund conventional loans.The reason they are called conforming loans is that conventional loans need to conform to Fannie Mae and/or Freddie Mac Agency Guidelines.Conventional Loans have the longest waiting period requirements after a foreclosure, deed in lieu of foreclosure, short-sale out of any other loan programsįannie Mae And Freddie Mac Mortgage Agency GuidelinesĬonventional Loans are called Conforming Loans.The waiting period is different depending on the loan program.Government and Conventional Mortgage Programs require a mandatory waiting period after a housing event to qualify for home loans. A housing event is one of the following events: This article covers Freddie Mac Foreclosure Guidelines On Conventional Loansīorrowers can qualify for government and conventional loans after a housing event. Search It! Search for: Search Button Resources Jerry l spence on VA Guidelines On Charge Offs And Collections On VA Home Loans.Abby on FHA Loan With Judgment Mortgage Guidelines And Requirements.Gustan Cho on FHA Loan With Judgment Mortgage Guidelines And Requirements.Gustan Cho on VA Guidelines On Charge Offs And Collections On VA Home Loans.Jeannine Rutledge on Why is GCA Different Than Other Lenders.Gustan Cho on Why is GCA Different Than Other Lenders.Linda W Womac on Chapter 11 Bankruptcy Guidelines for Government and Conventional Loans.
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