Fannie Mae Eases Guidelines for Investors

On February 6, 2009, Fannie Mae released Announcement 09-02, detailing the new rules for real estate investors who own multiple properties.

Fannie Mae previously only allow for four properties loans. Announcement 09-02 allows investor and second home borrowers to qualify for Fannie Mae-backed loans for up to 10 properties. However, investors must meet strict underwriting and delivery requirements outlined in the announcement.

“Fannie Mae is committed to providing financing opportunities for high-credit quality, bona fide investors,” said Fannie,“Experienced investors play a key role in the housing recovery and Fannie Mae’s continued support for investor borrowers is consistent with its mission to provide stability, liquidity and affordability to the nation's housing system.”

This move will open up many opportunities for investors who were ready to jump on the current foreclosure/short sale market but had maxed out on properties.