Potpourri from Fannie Mae - Further Reduced LTVs; Investment Property Limitations; Maximum Number of Loans; Interest Only Loan - Now DU

Fannie's not looking at application or closing dates; instead, they gave the lenders barely enough time to clear out their pipelines. Any loan with the old rules must be originated, closed, and purchased by Fannie before 12-1-08, or Fannie won't take it. And that's unspeakable. So (most) everything is effective now! Thank goodness there are a few exceptions, which I'll point out.

(Announcement 08-22, September 5, 2008)

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