| Fannie changes guidelines on DO/DU
Just wanted to pass on some knowledge today for those of you DO/DU people! Fannie Mae has changed the guidelines for the collections that need to be paid off. The new guidelines have raised the $1,000.00 aggregate collection amount up to $5,000.00. It also states that the old requirement of all individual collection accounts greater then $250.00 have to be paid off was eliminated. This only applies to loans that receive an approval (all EA levels as well) through DO or DU. Only primary and second homes are accepted.
Hope this helps!
Last edited by Erik; 01-11-2006 at 10:35 PM.
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