Fannie Mae loan

Despite the new guidelines laid out in May regarding last minute credit checks before closing, Fannie Mae now says those full reports are not mandatory for banks to pull. Though there are systems in place to check if there have been inquiries into your credit health, and ways to see if there have been new [...]

Beginning June 1, 2010, just before settlement, Fannie Mae will be running last minute credit report checks to ensure borrower's credit has not changed since loan application. Though I tell my clients not to go open lines of credit before settlement, because I know many times there is a spot check, this is a new [...]