Powered by

Fannie Mae's early start on limiting certain loans surprises lenders

Mar 11, 2021 - National Mortgage News

Lenders knew the government-sponsored enterprises needed to cap purchases of single-family loans backed byinvestor properties and second homesbut didn't necessarily think it would start this soon.

April 1eligibility criteriaFannie Mae announced Wednesday to fulfill achange to the GSEs' preferred stock purchase agreementsmade by former Treasury Secretary Steve Mnuchin will limit purchases to 7% over the course of a 52 week period.

This worred mortgage companies because they thought al...