Fannie's 2nd credit report pull

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Services for Real Estate Pros with Scanlon Signing Services
2nd Credit Report Pull  

lisa by car   Fanne Mae just announced that lenders will be required to provide a 2nd credit report be pulled on the actual day of closing, prior to the loan funding. This new credit check will apply to conforming loans under 417,000. If the borrower incurs additional debts after the lender pulled the initial credit report, it may delay or stop the closing all together. Beware future home buyers must never go out and apply for credit while the home loan process is active.

 

Lisa Scanlon, CSA

www.scanlonsigningservices.com

941-447-7130

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Rainmaker
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Pat O'Reilly
RE/MAX..214-289-6176 Irving and all of Dallas Fort Worth

Lisa..just something else to worry about right before closing..Thanks for the information.

June 30, 2010 07:51 AM
Rainer
214,957
Diane Williams

I had a young lady decide that she needed a new car along with the home she was purchasing.  She is now enjoying her car without the home she wanted.

June 30, 2010 08:01 AM
Rainmaker
16,841
Lisa Scanlon
Certified Signing Agent
Scanlon Signing Services

Your welcome Pat, its so hard to keep up with all the new regulations.

June 30, 2010 08:52 AM
Rainmaker
16,841
Lisa Scanlon
Certified Signing Agent
Scanlon Signing Services

Hi Diane, I hope it was a nice car.

June 30, 2010 08:53 AM
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Rainmaker
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Lisa Scanlon

Certified Signing Agent
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