credit: Fannie Mae RePulls Your Credit Just Before Closing: Loan Quality Initiative
- 06/08/10 06:26 AM
Fannie Mae's Loan Quality Initiative : Repulling Your Credit Just Before Closing A new loan quality initiative from Fannie Mae is making it harder for home buyers and refinancing homeowners everywhere to close on a mortgage. Beginning June 1, 2010, with all new applications, Fannie Mae wants lenders to verify that borrowers have not taken on new debt during the underwriting phase of the mortgage. If new debts are found, the mortgage is subject to a re-underwrite and a possible turndown. For Fannie Mae, the goal is to reduce the number of loans that go bad because of new, non-disclosed debt. … (0 comments)
Fannie Mae's Loan Quality Initiative : Repulling Your Credit Just Before Closing A new loan quality initiative from Fannie Mae is making it harder for home buyers and refinancing homeowners everywhere to close on a mortgage.
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