Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

new Fannie Me guidelines
Fannie Mae has announced changes to their underwriting guidelines, refinance seasoning
requirements, multiple mortgages to the same borrower and the manner in which borrowers are qualified when purchasing a new principal residence when their current principal residence is pending sale.
Seasoning Requirements - Fannie Mae has established seasoning requirements for refinance transactions that mirror those of Freddie Mac. Properties owned less than 6 months preceding the application for refinance are ineligible for cash out refinance transactions. The ownership date is considered to be the date of the deed of the current mortgage.
No Outstanding Liens - For properties purchased between 6 -12 months preceding application date the LTV must be based on the lesser of the original sales price or current appraised value. Properties purchased more than 12 months prior to application date may use the current appraised value.
Properties Listed for Sale - The maximum LTV for cash out refinance transactions on properties that were listed for sale within the last 6 months is limited to 70%. Evidence that the property was taken off the market must be in the file. For no cash out transactions, the LTV remains the same as current policy if the borrowers confirm their intent ... more

__________________________________________________
Are you on The Rain? Grow Your Network!