Okay, technically it matters. The effective date refers to the date that Fannie Mae purchases the loan from the lender. There wasn’t nearly enough notice given to the lenders and they were coming unglued. After all, it would have cost them big time.
The original date really was chicken on Fannie’s part, I’m glad they changed it.
(Fannie Mae Announcement 08-18R (Reissue); August 11, 2008)
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