Since it worked so well the first time…
Fannie Mae will loosen credit requirements for homeowners.
For What It’s Worth reported:
Feb. 5 (Bloomberg) – Fannie Mae, the mortgage-finance company under U.S. government control, will loosen rules for homeowners seeking to lower their loan payments by refinancing.
Fannie Mae will drop some credit-score requirements, reduce income-documentation standards and waive the need for appraisals in some cases, according to a notice yesterday to lenders posted on the Washington-based company’s Web site. The changes apply to loans that the company owns or guarantees.
Hat Tip Tom W.
This makes as much sense as whining about the national debt while pushing a trillion dollar spending bill.
