fannie mae: Buyers, PUH-LEASE pull out cash for purchases...at least until you close!
- 06/23/10 06:53 AM
Buyers, PUH-LEASE pull out cash for purchases...at least until you close! Back on June 1, I posted an announcement (a warning, really) to buyers who are preparing for closing. The rules have changed! Fannie Mae rolled out it's "Loan Quality Initiative" and it's having widespread impact. While many of the rules are not entirely new, the enforcementof them is. Fannie Mae, in an attempt to get repaid, is forcing strict mandatory underwriting guidelines. Buyers need to be extremely cautious of their financial and spending habits during the home purchasing process, especially from the time of initial loan application to the day … (1 comments)
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Buyers, PUH-LEASE pull out cash for purchases...at least until you close!
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