Saudi Arabia’s mortgage law will be submitted to King Abdullah for approval after the Shura Council completes its discussions next week, according to a senior member of the Council. The country has never had legislation covering mortgage and property finance and the law will regulate the use of mortgages, including registration and providing court authority over their use.
Most Popular Articles
It looks like borrowers who don’t fit neatly into Fannie Mae and Freddie Mac’s lending criteria could soon be running out of options if they want to buy a house. Over the last week, many (if not all) of the biggest lenders specializing in lending to borrowers outside the QM lending box paused their activities due to uncertainty in the market. And now it appears that FHA lending as we know it is disappearing from the market too.
The challenge with mortgage forbearance is that someone has to pay the bill. In an effort to address the growing concerns and liquidity challenges faced by issuers, Ginnie Mae issued a statement on Friday on how it plans to help