Isn’t the loosening of standards what caused the trouble we are in originally?
Fannie Mae has announced they are loosening the standards to try to allow more homeowners to refinance. I personally think that this is a little nuts right now.
Fannie Mae will drop some credit-score requirements, reduce income-documentation standards and waive the need for appraisals in some cases, according to a notice yesterday to lenders posted on the Washington-based web site. In other words, the party continues.
What are your thoughts? Will Fannie Mae help or hurt the housing market with this new move?
Source Real Estate Bloggers
