"Loans gone bad, and those on the way, put Fannie Mae $2.2 billion in the red last quarter. The Washington, D.C.-based mortgage giant announced Tuesday a $2.2 billion loss in the first quarter ended March 31, compared to a $961 million profit a year ago. On a diluted share basis, Fannie Mae lost $2.57 versus earnings of 85 cents a year ago."
Times are a changing! Your best friend at this point should be your clients lender. Even the ones I work with are dealing with new rules and regulations. Belts are tighter! More hoops to jump! But I am in this for the long haul and am willing to change with the industry.
Is everyone feeling this unpleasant squeaze? Do you think Fannie Mae will impose tighter restrictions than those recently put in place?
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