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Uncertainty highlights the mortgage news as the fate of government-sponsored mortgage agencies Fannie Mae and Freddie Mac, pending regulatory changes that are still under debate and a growing unease over the soundness of the FHA, which has come to dominate the mortgage-origination market in the wake of the financial crisis. “It’s going to be a couple of years of a really tough environment.” The more significant concern may be unemployment, which Brinkmann predicts will hit 10.2% by mid-2010. The continued bad news on the job front is sure to push loan delinquencies and foreclosures to new records next year. “We’re just getting into a lot of prime-mortgage adjustments, so we’re a long way from the bottom.
Bad credit home mortgage opportunities continue to dwindle as
FHA loans remain some of the only options for borrowers with less than perfect credit.
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