Fannie Mae Ups Lenders’ Net-Worth Requirements

Posted by Orb Staff on November 04, 2009 No Comments
Categories : Residential Mortgage

Lenders looking to do business with Fannie Mae now must have a net worth of at least $2.5 million and a dollar amount equal to 0.25% of the outstanding principal balance of any Fannie Mae portfolio it services, according to a newly released selling guide.

The changes reflect a significant jump from previous Fannie Mae requirements, which called on lenders to have a net worth of at least $250,000 and an additional dollar amount equal to 0.20% of the outstanding principal balance of any Fannie Mae portfolio serviced.

SOURCE: Fannie Mae

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