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Fannie Mae to lower Consumer Financial requirements in July

I would bet money that the National Association of Realtors had a hand in convincing Fannie Mae to raise the DTI. This is a bad decision that will guarantee that the real estate bubble will get even bigger so that when it pops it will be much worse than the last time.

Livinglies's Weblog

It’s the No. 1 reason that mortgage applicants nationwide get rejected: They’re carrying too much debt relative to their monthly incomes. It’s especially a deal-killer for millennials early in their careers who have to stretch every month to pay the rent and other bills.But here’s some good news: The country’s largest source of mortgage money, Fannie Mae, soon plans to ease its debt-to-income (DTI) requirements, potentially opening the door to home-purchase mortgages for large numbers of…

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