Improvements to lending guidelines at the Federal Home Loan Mortgage Corp. include expanded loan-to-value ratios and more flexible condominium requirements.
On loans secured by second homes, the maximum LTV ratio, as well as the TLTV and HTLTV ratios, is being raised to 90 percent from 85 percent.
A new 25-basis-point credit fee in price will be charged by Freddie Mac for second-home transactions where the LTV ratio exceeds 85 percent.
Source: Mortgage Daily
