Fannie Mae to tighten lending standards | WHAT REALLY HAPPENED


Fannie Mae to tighten lending standards

Starting Dec. 12, the automated system that Fannie Mae uses to approve loans will reject borrowers who have at least a 20 percent down payment but whose credit scores fall below 620 out of 850. Previously, the cut-off was 580.

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"Starting Dec. 12, the automated system that Fannie Mae uses to approve loans will reject borrowers "

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