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Real Estate & Property Law

: Housing Wire

Fannie Relaxes Underwriting Rules for Cash-Out Refis

By DIANA GOLOBAY

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Government-sponsored entity Fannie Mae (FNM: 0.595 +14.42%) announced in a memo dated from Wednesday that it has relaxed its underwriting rules for certain cash-out refinance activities for borrowers with Fannie-held mortgages. These “flexibilities” will include a relaxed eligibility criteria, as well as reduced documentation requirements, according to Fannie. For loans with a loan-to-value ratio less than [...]

Full post as published by Housing Wire on February 06, 2009 (boomark / email).

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