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Fannie Mae Revises Guidelines

February 18th, 2009 · 2 Comments

Fannie Mae will now allow up to 10 mortgages per investor.

Effective March 1, 2009 Fannie Mae will increase the number of mortgages allowed per investor to ten. This is up from the current limit of four. This new guideline applies to one to four unit properties. Fannie Mae cites the importance of investors in the following quote.

Experienced investors play a key role in the housing recovery and Fannie Mae’s continued support for investor borrowers is consistent with its mission to provide stability, liquidity, and affordability to the nation’s housing system.

Fannie Mae  writes “Lenders are encouraged to implement these changes immediately.”  Since Fannie Mae does not actually offer any mortgages, they buy mortgages in the secondary market, your lender may have stricter guidelines.

You can read the actual announcement here. It will open as a PDF document. It’s worthwhile reading as it lists eligibility, and reserve requirements.

Happy investing,

Ned

Tags: Advanced tips · real estate

2 responses so far ↓

  • 1 Richard Bergen County Real Estate (2 comments.) // Feb 28, 2009 at 7:04 pm

    I have blogged and been copy on these issues for the government back mortgages and that investors must get financing of we are going to get these properties moved off the for sale list.
    I am extremely happy they have realized that investors have a lot of money which could come into the market if they had financing.
    The solution are many things, niche per say, that will fill the gap for the inventory.

  • 2 Jonathan Benya (10 comments.) // Mar 3, 2009 at 3:42 pm

    Wow, Ned, I totally missed this one! Thanks for sharing the insight, I’m going to have to look into this a little more closely!

    Jonathan Benya´s last blog post..How did we get here? Understanding the Credit Crisis

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