Federal National Mortgage Association (FNMA) Stock Collapses 12%: Timely Payment Of Rent Can Help You Get A Mortgage

Over the past 5 days, the stock price has dropped significantly. The price continued to decline throughout the week. On Monday, it cost $ 1.11. The next day, it dropped again to $ 1. On August 18, the price climbed slightly to $ 1.05. However, on Thursday the worth collapsed at $ 0.88. On August 20, it surged to $ 0.98.
Late payment of rent has implications, for example, the risk of eviction. But often, renters who constantly pay on time, never see the reflection of this positive activity. Now the situation is changing, and it can help more people get a mortgage. The Federal Housing Finance Agency announced that timely lease payments will now be considered in underwriting calculations Fannie Mae mortgage. The change will take effect immediately and will be part of the digital system of underwriting Fannie Mae.

A recent Fannie Mae survey revealed that less than 5% of the tenants reflect the lease payments in their credit reports. But because the lease payments are the largest monthly expenditure of many people, the absence of their credit report can lower their chances of getting a home loan. So this is a positive change that can make it easier to obtain approval for a greater number of borrowers.

Robert McDowney

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