Even if you have a jumbo mortgage, you’re not necessarily excluded from HAMP if you live in a high-value area. What matters is whether you have a "conforming" mortgage, i.e., guaranteed by Fannie Mae.
Some great changes are coming to Fannie Mae loans on July 29, 2017. This benefits Texas homebuyers by allowing more people to qualify under more flexible guidelines. Fannie Mae recently announced new changes to its Desktop Underwriter (DU) Version 10.1 in order to make underwriting easier and simpler for Texas home buyers.
If you’re shopping for a mortgage, these changes to Fannie Mae’s rules could help you. oct 27, 2017 at 7:17AM. Fannie Mae is a government-sponsored organization that rose out of the ashes of the Great Depression with a mandate to help low- to moderate-income borrowers find a mortgage.
In July 2012, consumers were more pessimistic about getting a mortgage than any time since Fannie Mae started collecting data. Just 41% believed it would be easy to get a mortgage.
The two federally regulated agencies that buy mortgage loans from lenders, Fannie Mae and Freddie Mac, have eased both their LTV and DTI limits, making it easier to qualify on those. over a.
A mortgage rule change announced in July 2017 could make home loans easier to obtain, particularly for borrowers with a lot of debt relative to their income. The change made by Fannie Mae will increase the allowable debt-to-income (dti) ratio limit from 45% to 50% of gross income.