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acibella
618 Posts |
 Posted - 08/05/2008 : 08:26:56 AM
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Hi All,
I do a pretty good job of keeping up on guidelines (at least I thought). But I don't do much non owner occ. As a matter of fact, I haven't closed one in probably 6 months. Just had someone in, looking to C/O 3 properties to 70%. Qual's Fannie/Freddie, but I am now being told he cannot have more than 4 properties financed. I know the old rule was 10 properties financed. How long ago did this happen? Is the rule now 4 properties financed? Any help would be appreciated,
AC |
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wesmortgage
4 Posts |
Posted - 08/06/2008 : 09:26:35 AM
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| It has been about 3 or 4 months a real deal killer for investors |
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nowbroker
1386 Posts |
Posted - 08/06/2008 : 09:41:39 AM
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| http://www.brokeroutpost.com/loans/brokers/forum/topic.asp?TOPIC_ID=234892 |
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mortgagebanker
135 Posts |
Posted - 08/28/2008 : 11:52:48 PM
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| Freddie changed their guideline as of 8/1/2008. Fannie has never changed theirs. BUT many lenders who underwrite to Fannie have still implemented this internally. So find a true Fannie lender. All I do is investor loans; if you'd like to refer them over just let me know. |
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