The changes by the government-sponsored enterprises that buy and sell mortgages “are broadening the population that can qualify and are making the transactions have less friction,” Better.com credit-risk director Mike D’Ambrosio told CNBC.
Sandra Thompson, acting director of the Federal Housing Finance Agency, has noted homeowners whose earnings fall below their area’s median income—who are generally eligible for these Fannie and Freddie programs—actually registered a drop in refinancing activity last year, when the industry boomed more generally.
