Since it worked so well the first time…
Fannie Mae will loosen credit requirements for homeowners.
For What It’s Worth reported:
Feb. 5 (Bloomberg) – Fannie Mae, the mortgage-finance company under U.S. government control, will loosen rules for homeowners seeking to lower their loan payments by refinancing.
Fannie Mae will drop some credit-score requirements, reduce income-documentation standards and waive the need for appraisals in some cases, according to a notice yesterday to lenders posted on the Washington-based company’s Web site. The changes apply to loans that the company owns or guarantees.
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Hat Tip Tom W.
This makes as much sense as whining about the national debt while pushing a trillion dollar spending bill.