Conforming loans

Mortgage loans that meet the qualifications of Freddie Mac or Fannie Mae, which are bought from lenders and issued as pass-through securities.

Conforming Loan

A mortgage loan that Freddie Mac and Fannie Mae are allowed to buy. These organizations buy mortgages from the original lenders so as to reduce risk to the lenders and, thereby, maintain a smooth flow of mortgage credit. Conforming loans must meet certain guidelines. Included among these guidelines are requirements, such as a maximum debt-to-income ratio for the property owner, but the most important rule states that neither organization may buy a loan worth more than a certain amount. This amount changes every year according to changes in the median home price. See also: Jumbo loan, Mortgage-backed security.

单词	conforming loans
释义	Conforming loans Conforming loans Mortgage loans that meet the qualifications of Freddie Mac or Fannie Mae, which are bought from lenders and issued as pass-through securities. Conforming Loan A mortgage loan that Freddie Mac and Fannie Mae are allowed to buy. These organizations buy mortgages from the original lenders so as to reduce risk to the lenders and, thereby, maintain a smooth flow of mortgage credit. Conforming loans must meet certain guidelines. Included among these guidelines are requirements, such as a maximum debt-to-income ratio for the property owner, but the most important rule states that neither organization may buy a loan worth more than a certain amount. This amount changes every year according to changes in the median home price. See also: Jumbo loan, Mortgage-backed security.
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