Fannie Mae-No Politics (FNMA)

[AncientAries]

Chessmaster, even putting 20% down you can still go Fannie Freddie, it's not only for low income borrowers, you have the option to waive escrow, pay them on a yearly basis, on P&I are paid to F&orF or the check actually goes to he servicer be it Chase, BofA, Wells Fargo, the handle the billing for a fee to the holder.
Honestly, FHA, exists for those that need that low down, you can put up to 10 people on that application, see FHA is for those that can't qualify via F&F guidelines, ratios are set higher to give flexibility to the borrowers but PMI for the life of the loan sucks, especially at the rates today.
Super wealthy use Fannie or Freddie as well, or if it passes confirming limits 417k then it's a jumbo portfolio loan held on the books of that lender or bank, which could be pooled and sold on the secondary market, but that is not F&F of course.