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Review of Selected Underwriting Guidelines to Identify Potential Barriers to Hispanic Homeownership

Release Date: 
March 2006 (51)
Posted Date:   
June 2, 2006

This detailed review of mortgage underwriting guidelines used by three of the most common sources of residential mortgage finance – Fannie Mae, Freddie Mac, and the Federal Housing Administration (FHA) – finds that changes to standard products offered by these major participants over the last decade have addressed some of the barriers to homeownership for Hispanics. The review is not intended to compare the financial institutions' offerings or to rank them, but rather to highlight the products that are currently available to overcome barriers to homeownership for Hispanics and to understand where gaps remain in the types of products needed to address different barriers.

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Note: Guidance documents, except when based on statutory or regulatory authority or law, do not have the force and effect of law and are not meant to bind the public in any way. Guidance documents are intended only to provide clarity to the public regarding existing requirements under the law or agency policies.