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Subject October Surprise: Largest U.S. mortgage lender tightening restrictions

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Original Message I have inside information that Fannie Mae will significantly tighten lending restrictions beginning in mid-October. These changes include requiring a minimum of six months of reserves, additional proof of income, verification of funds to pay off charge accounts, new LTV ratios, and generally much more documentation. I don't have in-depth financial, lending, or real estate experience, so I'm hoping those that do will be able to weigh in on the meaning and impact of these changes.

Here's the memo from Fannie Mae:

[link to www.filedropper.com]

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