Fannie reissues new policy on number of properties owned by one borrower

What is happening today in mortgage lending:
Fannie issues a new bulletin
This Announcement contains updates and clarifications to several Fannie Mae policies as
Itemized below:
 Multiple mortgages to the same borrower. Currently Fannie allows 4 properties to be financed by the same borrower. Fannie Mae is modifying this policy to allow investor and second home borrowers to own five to ten financed properties if they meet certain eligibility and underwriting and delivery requirements as outlined in this Announcement. Read bulletin for complete details
 Reserve requirements for investment properties and second homes
 Definition of liquid financial reserves
 Multistate 1-4 Family Rider - Assignment of Rents (Forms 3170 and 3170.53)

Shirley Nault has been a mortgage professional for over 20 years. Visit her other mortgage web sites go to: www.naultfhatips.blogspot.com or www.dutips.blogspot.com