Lenders urge Biden to remove GSE cap on ‘high risk’ loans

WASHINGTON – Fannie Mae and Freddie Mac’s government oversight reforms announced in the final days of the Trump administration have come under fire as lenders, housing advocates and others blame one of the changes penalize minority borrowers.

Critics focus on a provision that caps the amount of “high risk” loans that Fannie and Freddie can purchase. The new policy defines these mortgages based on loan-to-value and debt-to-income ratios, as well as the borrower’s credit rating.

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