I would like to know what are exact requirements for Fannie Mae and Freddie Mac requirements for Credit History section.
I have been through the effanniemae and freddiemac website, but the documentation is too huge, also recently fannie mae updated their foreclosure requirements if the loan qualifies for manually underwriting.
I want to know is that what are the exact BK / FC / MH / RO / IN / RE requirements for Fannie and Freddie if a loan recieves appropriate responses, do the credit policies change as per the response ??
Because Fannie recently upgraded the FC Requirements deals only if a loan qualifies for manually underwriting, so want to know for other responses.
Please guide me.