What percentage of 30 year fixed 300k loans are held by Fannie Mae or Freddie Mac?
The stories keep saying 50% of American mortgages are held by the two. I was shocked to hear people say “let them go under”. Then I ask them about their home loan and they say it’s held by Citibank or B of A….wrong! They service the loan, but they don’t hold the paper, just collect payments and pass them on.
What percentage of typical loans 300k fixed rate for 30 years are held by FNMA or FHLMC. Why don’t the candidates seem to know that?
The 50% that aren’t held by Fannie or Freddie are Jumbo, FHA, hard money, sub-prime or negative ammortization ARMS.