Fannie Mae`s terms and conditions apply to the specified occupancy status. Lenders should always remain vigilant about mitigating risks during the construction or renovation process. The more flexible requirements that now allow for further supporting ...
The article reports on the move of Fannie Mae to tighten its underwriting standards and requirements in the U.S. It mentions that the government-sponsored enterprise (GSE) is raises its minimum credit an...
Income, assets, and employment will be evaluated for loan approval Loan amount must be at/below the conforming loan limit As noted, conforming home loans adhere tounderwritingstandards set by Fannie Mae and Freddie Mac. This includes credit and income requirements, such as a minimum 620 FICO sco...
Age of Document Requirements for Loans Impacted by a Disaster ∙ Compliance with Laws and Responsible Lending ∙ Miscellaneous Selling Guide Updates Each of the updates is described below. The affected topics for each policy change are listed on the Attachment. The Selling Guide provides ...
As the government sets out to fix the problems at Fannie Mae and Freddie Mac, it must resolve the inherent conflict between shareholders and taxpayers and their undiversified business model.
Lenders focus most of their mortgages on terms of Fannie Mae so they can be purchased on the secondary mortgage market. If Fannie Mae didn't exist, requirements may be reduced on mortgages purchased by non-government entities on the secondary mortgage market. Lenders may face liquidity issues on...
Fannie Mae and Freddie Mac Draft Private Mortgage Insurer Eligibility Requirements: Request for Public InputMelvin W. Watt
Fannie Mae Hikes Net Worth Requirements. (cover story)The article reports on the move of government-sponsored enterprise Fannie Mae to increase its net-worth requirements for approved seller/servicers to ensure that its business partners are capable of fulfilling their obligations in the U.S....
Fannie Mae scraps higher downpayment requirementsALAN ZIBEL
The article reports on the decision of Fannie Mae to increase the eligibility requirements for lenders wanting to do business with it. The agency will now require lenders to prove a net worth of at least 2.5 million U.S. dollars along with cash available equivalent to 0.25% of its portfolio...