New Fannie Mae and Freddie Mac rules on lending are here. Will your financing be denied due to changes in FNMA/FHLMC rules?
New Fannie Mae and Freddie Mac rules on lending are here and go into effect soon. These may have a sweeping impact limiting loans or driving up interest rates. Your lender may not be able to honor a pre-approval letter even if you would otherwise qualify for the financing. It may impact the ability to close a loan at the quoted rate. The impacts and implementation are unclear to almost everyone at this point. Some lenders may be severely limited from their normal practice and volume of selling loans to FNMA/FHLMC. Read more about the restrictions.
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