Upcoming Foreclosures

How long does fannie mae require a foreclosure to be seasoned?

foreclosure closed off 4 years ago. Getting a refer on lender sponsered do.

Public Comments

1. Why are you concerned with a fannie mae guideline? You should select a mortgage "broker" that will give you a loan that you and he can agree on the interest rate. That is a difficult question to answer because fannie mae purchase loans based on interest rates, terms of the loan etc. I really don't understand why that would be of concern to you if you got the rate you want. Some lenders don't even sell to fannie mae, they keep the loan and service them. Some keep the for more than six months before selling them to fannie mae therefore a different set of guidelines apply. The lender will decide who he will sell his loan to. Some lenders sell to several different buyers to include fannie mae. This lender is not going to tell you who he will sell his loan to. You are going to get a loan based on your current credit score. If your foreclosure is more than 4 years old and you have re-established credit again. This is a list of credit scores and their grades Excellent 750-850, good 660-749,Fair 620-659, poor 350-619 Those are what will determine the type of loan you will qualify for, not who the lender will sell his loans to. I hope this has been of some use to you, good luck. "FIGHT ON"
2. Are you trying to place a deal as an undercover mortgage broker? The answer is 4 years according to FNMA guidelines...
3. this question does not make sense. How can a Foreclosure be seasoned?