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It hasn't gotten very much attention, but recent changes from Fannie Mae will make it more difficult for home buyers to close on loans. The new Loan Quality Initiative will require lenders to pull a second credit report right before closing to ensure that borrowers haven't taken on an unmanageable additional payment before closing. That means if you're thinking about buying new furniture to put in you beautiful new home, you could put yourself in a position to not be able to buy that home! The new rules stipulate that if your credit score changes by more than two points the … (3 comments)
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