OpinionIndustry News

Fannie Mae rescinds 4-property limit for investors

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

If you turn down Pandora and listen closely, you can hear real estate investors in Chicago cheering all the way from Cincinnati. Read the Fannie Mae official announcement -- you get the sense that the nationalized group is getting with the program. This excerpt comes from the lead paragraph: "Fannie Mae is committed to providing financing opportunities for high-credit quality, bona fide investors. Experienced investors play a key role in the housing recovery."The use of the phrases "high-credit quality," "bona fide" and "experienced" was a conscious one, by the way. Fannie Mae is averse to first-time investors and other foreclosure opportunists. Instead, it wants to serve individuals with a history of owning and successfully managing rental property. To that end, Fannie Mae will now finance the purchases of one-unit homes for investors with an interest in between 5-10 properties, provided that all of the following guidelines are met: 25 perce...