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Old 07-02-2006, 06:13 AM
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Post Fannie Low-Income Programs Enhanced
MyCommunityMortgage will undergo a series of changes this summer, Fannie Mae recently announced. In August, MyCommunityMortgage will be part of Fannie's Selling Guide, enabling it to be a standard product offering to all approved lenders, eliminating the requirements for special approvals, allocation limits, and negotiated contracts, according to the announcement.

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Old 07-11-2006, 05:50 PM
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FHA is taking away My Community market share since there are hardly any appraisal constraints anymore.

Brokers should study this if they do not have FHA. You would be surprised what scores DU will approve. Try anything under 80% through DU 90% if rate and term. Equity is a compensating factor.
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