Fannie Mae rolls out new mortgage guidelines Monday. Therefore, if you’re in the process of applying for a conforming home loan, consider giving your complete application by the close of business Friday.
Starting Monday, December 13, 2010, Fannie Mae is changing its mortgage lending guidelines.
Conforming mortgage rates may be posting all-time lows this week, but that doesn’t mean you’ll be eligible for them. You may have already called your loan officer and found this out the hard way. It’s because of a federally-mandated mortgage-pricing scheme known as “loan-level pricing adjustments”.