Fannie Mae and The Wild West
So because Fannie Mae is now hurting for money, they’re increasing their costs. So the borrowers who are on higher ground now probably need to pony up a 25% down payment to compensate for the fees and the shame of an 800 FICO.
And in addition to this travesty, the instrument our Fannie Friends are using to perpetuate this latest infraction of civility is yours truly and other mortgage lenders by making us put on the black hats and knock the townspeople around with these inflated costs.