Less Stringent Fannie Mae Declining Market Guidelines!

Mortgage and Lending with Qivana NMLS # 17358

Hello all!

How about this for some good news? The below underwriting change was just passed along to me from my Underwriter:


Fannie Mae has implemented a new National Down Payment Policy which will replace their current Declining Markets Policy. As a result, the following eligibility guidelines have been updated:

All loans with an initial AU Submission date of 6.01.08 are no longer required to reduce LTV/CLTV/HCLTV by five (5%) in a Declining Market, for the following products:

So what do we do now? We go find some of the GOOD loans that came through in the recent past that just didn't have enough of a down payment. Let's make some happy buyers!

All the best,


The Friendly Neighborhood Mortgage Guy Web Site

SWheelan@TMGLtd.biz Email



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Steve Homer
The HBH Group (Keller Williams affiliate) - Round Rock, TX

Its about time the Feds did something positive.  Lowering the second home limits from 10 to 4 is going to kill my investment business for sure this year!

Jun 05, 2008 01:11 AM #1
- -
- - Bogota, TN

Thanks for you for taking the time to comment on this subject in the Active Rain network.  AR is the new "cyber backbone" of the industry, and with it's uplink to Localism.com it is transforming the real estate marketplace. Agents who don't see which way the cyberwind is blowing are going to find themselves at a considerable disadvantage inside of three to five years.

Jul 25, 2008 03:44 AM #2
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Sean Wheelan

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