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July 2008
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Here's what you will find in this issue. Notice the stars next to each
change or update. Four(   ) to five(    ) stars means the information is very important and has a lot of impact
on the origination and underwriting of the loan. Subscribers have complete access to
View Most Frequently Ask Questions which includes all archived answers that can be
searched by a quick, "key word" search.| Fannie Mae |
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Revised Rules: Prior Foreclosures, Short Sales, Deed-in-Lieu, Bankruptcy!
Sure it's a lot more complicated than it used to be, but it's also SO much more equitable. EVERY other agency treats a short sale, a deed-in-lieu, and a foreclosure all exactly the same, and they're NOT! Read how Fannie's new rules make a huge difference, especially in today's market.
Revised! Prior Foreclosure, Short Sale, Deed-in-Lieu, Bankruptcy Rules (Fannie Mae Announcement 08-13, June 13, 2008) |
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