i got this in my email this morning, thought someone here might be interested:
[url=https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2009/0902.pdf]https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2009/0902.pdf[/url]

I was shocked to hear that they changed it back. Like everything else with the goverment, I was sure it would never go back.

I think the change is great- but who knows how long it will last!

It was only a matter of time.

The question had to be, who was going to soak up the massive excessive of housing supply, both new and existing? There was only one answer, investor/landlords, and if they can't get credit, homes sit on the market.

Good to know. Also, if anyone is interested in reading fnma's automated underwriting guidelines (Desktop Underwriter) in detail - see ch. 2 on the following link: https://www.efanniemae.com/sf/guides/duguides/pdf/gtu.pdf

It's a bit dry but very valuable.

I think it's a sign that Fannie Mae now realizes that investors are the only ones buying these "toxic" properties. No one else will clean up the mess so you got to let the investors do their thing.

As soon as things level out, the #10 will be history. Kevin is dead on by saying that Fannie Mae needs the investors right now to help mop up the mess.

[quote=Atlanta Homes]As soon as things level out, the #10 will be history. Kevin is dead on by saying that Fannie Mae needs the investors right now to help mop up the mess. [/quote]

Damn straight - who other than investors would buy up rundown foreclosures and do full rehabs? First time homebuyers? Not likely...Most of the foreclosures in my market are in rough shape - the only people buying them are rehabbers - people taking on huge risk in this market. So yeah, hopefully the government is starting to realize the importance of not shutting out investors from the mortgage market.

I think as soon as their analysts think the prices are bottoming out, they'll increase the 75% LTV requirement also.