Fannie Raises Lenders Net Worth Requirement Ten-Fold

Fannie Mae (FNM: 1.00 -2.91%) updated its eligibility requirements for lenders wanting to sell and service residential first mortgages, according to the new selling guide released Friday.To do business with Fannie Mae, lenders must now have a net worth of at least $2.5m — 10 times the previous required net worth — plus a dollar [...]

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