The Loan Officer Podcast Episode 110: Fannie Mae’s 7% Rule: The What, Why and How
Homebuyers, realtors, builders, loan originators and every mortgage professional needs to know what’s going on in the mortgage industry. Fannie Mae recently capped the amount of loans they will purchase that are backed by seconds homes (vacation homes) and rental properties (investment homes).
Additionally, but for some reason not being talked about, Fannie Mae is also making it more difficult to qualify for a home loan if you have below 680 FICO, above 45 DTI or over 90 LTV.
Make time for this very important episode. Shoutout to the Mortgage Bankers Association, NAMB, Dave Stevens, Rob Chrisman, Urban Institute and HousingWire.
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