Fannie Mae Revises Investment Property Guidelines

Fannie Mae, seeking to break the logjam in the housing crisis, loosened its loan restrictions for real estate investors and second homebuyers last week, issuing a new set of selling guidelines. On February 6, 2009, Fannie Mae released Announcement  09-02, a five-page document that outlines the new rules for real estate investors who own multiple properties. “Fannie Mae is committed to providing financing opportunities for high-credit quality, bona fide investors,” said Fannie, which accounts for 40 percent of the $12 trillion in U.S. residential mortgage debt. “Experienced investors play a key role in the housing recovery and Fannie Mae’s continued support for investor borrowers is consistent with its mission to provide stability, liquidity and affordability ...