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<a href="http://www.accessmylibrary.com/coms2/summary_0286-37162416_ITM" title="Facts and information about PRODUCT: Zero Tolerance for Zero Down; But have we truly seen the end of 100% financing? The industry has differing opinions.(Features)(Federal National Mortgage Association)">PRODUCT: Zero Tolerance for Zero Down; But have we truly seen the end of 100% financing? The industry has differing opinions.(Features)(Federal National Mortgage Association)</a>
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PRODUCT: Zero Tolerance for Zero Down; But have we truly seen the end of 100% financing? The industry has differing opinions.(Features)(Federal National Mortgage Association)
Byline: Amila Dymi
In the U.S. and elsewhere in the world, lenders prefer to avoid the risk associated with 100% financing or no down payment loans. Most are not willing to add down payment assistance risk to the overall default and foreclosure risk already looming over the mortgage market. Some of the country's largest lenders have already exited that segment of the marketplace. "We do not offer 100% financing products," Chase media relations representative for New York, New Jersey and Connecticut Michael Fusco told Broker.
At least until August 2008 Fannie Mae continued to provide no down payment, or special financing. Fannie offered 100% financing on ...
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