Lenders Close to Agreement To Ease Restrictions

Mortgage giants Fannie Mae, Freddie Mac and private mortgage lenders are close to an agreement to ease lending restrictions.

"Fannie Mae, Freddie Mac and private mortgage lenders are nearing an agreement that may lower restrictions on borrowers with poor credit, in an effort to boost lending amid a tepid housing recovery, according to published reports … It would mark a key loosening of lending standards for the mortgage giants and banks in the aftermath of the financial crisis of 2008, when credit requirements were made far more restrictive." Access the full article from USAToday by clicking here.