A key policy change by mortgage giant Fannie Mae that offered homeownership to thousands of new buyers — many of them minorities — could face significant cutbacks. The reason: Private mortgage insurers are re-thinking their decisions to participate. The change, which took effect last July, allowed borrowers with debt-to-income (DTI) ratios as high as 50 percent to obtain low down payment mortgages. Homeownership advocates generally welcomed the move, arguing that it could open the marketplace […]
source https://therealdeal.com/2018/03/16/cutbacks-in-high-debt-ratio-loans-could-hurt-buyers/
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