Jennifer Griner's Blog – June 2010 Archive (21)
Second Credit Checks for Home Buyers: Effective Today (June 1, 2010)
Starting June 1, Fannie Mae has a new rule going into effect which requires the lender to check for additional lines of credit, such as a new credit card or a car lease, that a borrower may have obtained that have not been reflected on the credit report over the course of the loan process. With stricter regulations mandating a further credit probe before borrowers close their mortgage, real estate experts are advising prospective home shoppers to keep… Continue
Added by Jennifer Griner on June 1, 2010 at 10:26am — No Comments
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