Fannie Mae and Freddie Mac this week officially announced 97 percent loan-to-value ratio programs to a mixed industry response. Fannie’s low-downpayment option will be available through its MyCommunityMortgage program, as well as for refinances and other non-MCM mortgages. Freddie will offer its 3 percent downpayment product as a purchase or no-cash-out refinance in its Home Possible Advantage program. The biggest difference between the two is...