Convince Fannie Mae to soften its guidelines

Editor,

What would really help this housing market turnaround is if NAR would work on getting Fannie Mae to soften their guidelines for qualifying mortgages on the secondary market – that would spur the lenders to start lending again.

The banks and lenders are not going to underwrite a mortgage that they can’t sell on the secondary market because that would just cut their own throats.

If Fannie Mae were to be convinced that lowering their levels a little would open up the opportunities for more loans and remove more homes from the market, thereby reducing inventory, then the supply and demand theory kicks in and starts our recovery.

Jerry Pascale
Re/Max Premier Realty
Ocala

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