Evidence to the Assembly's Communities Committee from the National Federation of Builders Wales, the Federation of Master Builders Wales and the Home Builders Federation all made it clear that the main obstacle to new house building in Wales was the lack
of access to mortgage finance.
Importantly, Deputy Secretary Patenaude's leadership in these efforts will ensure that Americans have
greater access to mortgage finance credit, promote a greater role for increased private capital in mortgage finance, and reduce taxpayer risk exposure.
Ensure Accessibility: A reformed system should ensure
broad access to mortgage finance for creditworthy borrowers and participation by lenders of all sizes and types.
However, over the last few decades, the combination of very low interest rates and the regulations that allow
easier access to mortgage financing has prompted more borrowers to enter the real estate market and this has put increased pressure on demand.
As government - backed entities (GSEs), Fannie and Freddie maintain more lenient guidelines (lower credit scores, flexible down payments) than loans from private capital, thus allowing more people to have
access to mortgage finance and home ownership.
While BFS mortgage financing is viewed on a case - by - case basis, if your client works with a mortgage professional or banker to obtain a pre-approval, they can confirm that they have
access to mortgage financing and find out exactly what they can spend on a home before they head out property shopping.
The report urges that the future of U.S. homeownership depends on broadening
the access to mortgage financing; the authors say this remains too restricted and is still reserved for those with great credit.