Getting approved for a mortgage is about to get harder.  For the second time in less than 3 months, Fannie Mae announced changes to its mortgage guidelines.  In its official announcement, Fannie Mae details the updates, meant to reduce the mortgage firm’s overall risk. The first major change is with respect to credit scoring.  All Fannie Mae [...]

As a reminder, Fannie Mae is rolling out new lending guidelines Tuesday, September 1, 2009.  Starting next week, being approved for a home loan could be much more difficult. The new rules mark the first major underwriting update since April of this year.  The changes are mostly geared at fraud prevention. Among the updates: Stock options [...]