The mortgage market has been heating up in recent months as banks and other lenders have taken aim at the segment, particularly in the wake of the collapse of the housing bubble.
The market is one of the biggest in the country, with a total of 3.6 million mortgage transactions occurring last month, according to the Mortgage Bankers Association.
More than half of the transactions are for loans to individuals.
A separate study conducted by Fannie Mae last year found that there were more than 5.4 million transactions on the market last month.
In response, many lenders have started rolling out new tools aimed at helping borrowers who can’t afford to take on new loans.
Fannie and Freddie have begun rolling out a new tool called the Mortgage Lender Compare, which helps homeowners and others compare the value of their mortgage.
FHFA says that many lenders offer more advanced mortgage services than those offered by the current mortgage marketplace, and that they will be offering this new tool to assist borrowers in making the transition.
The lender Compare is currently available in the following states:Alabama,Alaska,Arizona,Arkansas,California,Colorado,Connecticut,Delaware,Florida,Georgia,Hawaii,Idaho,Illinois,Indiana,Iowa,Kansas,Kentucky,Louisiana,Maine,Maryland,Massachusetts,Michigan,Minnesota,Mississippi,Missouri,Montana,Nebraska,Nevada,New Hampshire,New Jersey,New Mexico,New York,North Carolina,North Dakota,Ohio,Oklahoma,Oregon,Pennsylvania,Rhode Island,South Carolina,South Dakota,Tennessee,Texas,Utah,Vermont,Virginia,Washington,West Virginia,Wisconsin,Wyoming,Other states that are not part of the above list are Alaska, Arizona, Arkansas, Colorado, Delaware, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming,Other States that are part of this list include Alaska, Arkansas: California: Connecticut: Delaware: Florida: Georgia: Hawaii: Idaho: Illinois: Indiana: Iowa: Kansas: Kentucky: Louisiana: Maine: Maryland: Massachusetts: Michigan: Minnesota: Mississippi: Missouri, Missouri: Montana: Nebraska: Nevada: New Hampshire: New Jersey: New Mexico: New York: North Carolina: North Dakota: Ohio: Oregon: Pennsylvania: Rhode Island: South Carolina: South Dakota: Tennessee: Texas: Utah: Vermont, Vermont: Virginia: Washington: West Virginia: Wisconsin: Wyoming: Other states that have not added this: Alaska: Arizona: Arkansas: Colorado: Connecticut
