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Fannie Mae announces intentions to relax on refinancing rules

Mortgage News > Fannie Mae announces intentions to relax on refinancing rules
Date: 02/04/2009    Fannie Mae announces intentions to relax on refinancing rules

Fannie Mae announced on their company website Wednesday that the lenders have decided to relax on their set of rules for home-loan refinancing.

Fannie Mae's website revealed the rules to be relaxed are that of credit-score requirements, some may be dropped; standards of income-documentation expect to be reduced, the need for appraisals in some cases may be waived.

Only loans the company already owns or guarantees are eligible for participation in the change.

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