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Research help on Fannie and Freddie

I am hoping someone out there can help me on this or knows someone who can help me.

1. When did Fannie and Freddie start buying piggyback loans? These are loans that have 80% down and the remaing 20% is financed by a second loan. Does anyone out there know when Fannie or Freddie started buying these? Anything about their volume would also help. It is my impression that Fannie and Freddie would buy the 80% loan as long as someone else financed the other.

2. When did Fannie and Freddie start allowing “interested party” assistance with the downpayment and closing costs? Interested parties include the seller, builder and real estate agent.

3. Does anyone know if and when the automated underwriting software that F and F each used with increasing zeal in the late 1990’s took into account the likelihood of real estate appreciation in the area of the loan? I have found an account that says yes, but I cannot confirm it.

Any help or contacts at Fannie, Freddie or mortgage originators much appreciated. I am most interested in the 1995-2004 period.

I am reachable at roberts at gmu followed by the dot, followed by edu. There’s a link in the upper left hand corner of this page as well. Thanks, folks.


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