Mortgage Standards Set to Loosen

Mortgage Standards Set to Loosen

In what could potentially be a major catalyst for the housing market, new guidelines – meant to provide greater clarity as to when Fannie Mae and Freddie Mac can force buybacks of mortgages sold to them by lenders – are set to take effect December 1st. It is anticipated that the new guidelines will have the effect of extending the availability of mortgage financing to some consumers with credit scores that have kept them out of the market over the past few years as well as streamlining the mortgage application process.

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Michael Anderson
Michael Anderson 247 posts

Over the course of his 30-year career, Michael Anderson has worked in the residential development industry in the Pacific Northwest, Northern California and Southern California. He has acquired residential land in excess of $300M for both land development and homebuilding entities and has overseen the construction of approximately 2500 homes. Currently, in semi-retirement, and based out of Newport Beach, CA, Michael continues to invest in and stay abreast of the land markets.

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