By Trey Garrison | HousingWire
New, easier lending guidelines from Fannie Mae and Freddie Mac go into effect today, and most mortgage lenders plan to take advantage of them, hoping to offset the long-term slowdown in mortgage activity.
The new standards offer clarification on when lenders can be penalized for making mistakes in the mortgage they sell to the government-sponsored enterprises.
Many lenders say the lack of clarity in requirements have made them tighten their own lending rules too much, making it harder for the average buyer to qualify for a home mortgage.
