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Fannie Relaxes Underwriting Rules for Cash-Out Refis 

Feb 06, 2009By

Government-sponsored entity Fannie Mae [stock FNM][/stock] announced in a memo dated from Wednesday that it has relaxed its underwriting rules for certain cash-out refinance activities for borrowers with Fannie-held mortgages. These “flexibilities” will include a relaxed eligibility criteria, as well as reduced documentation requirements, according to Fannie.

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