Helping You to Help Your Customers As a mortgage broker, you are a trusted advisor to your customers. When customers turn to you for questions about refinancing because they are struggling with their mortgage payments - you need solutions. There are many options available and that's why Fannie Mae wants to help you stay informed. The first thing to do is to submit their application through DO® to see if they may be eligible for refinancing. If refinancing isn't an option, here are some other ways in which you can help. •· Encourage your customers to contact the … (0 comments)
fannie mae guidelines: new Fannie Me guidelines
- 09/22/08 11:09 AM
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 … (2 comments)
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