May
08
Fannie-Freddie Look to Provide Financing for Manufactured Homes
By-
Mortgage firms see programs as a way to help low-income buyers
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Proposals outlined in plans for affordable housing challenges
Fannie Mae and Freddie Mac may soon begin to provide financing for buyers of manufactured homes, according to draft plans released on Monday.
The move is part of an effort by the mortgage-finance giants to ease burdens on low-income borrowers, many of whom turn to factory-built housing as a inexpensive alternative to traditional residences. At the same time, it could also bring criticism from people concerned about the riskiness of lending for the mobile homes, which often sit on leased land and can depreciate quickly in value…
Fannie-Freddie Look to Provide Financing for Manufactured Homes
