As a part of Fannie Mae's initiative to cut down on shoddy underwriting and fraud by the borrowers, the lenders will be ordering a second credit screening immediately before closing.

The last-minute credit report screening will help the lender to find out whether the borrower has obtained or shopped for new debt between the date of the person's loan application and the closing.

In case, you've applied for any credit for furnishings for the new house, landscaping, a new credit card, etc., then your closing could be put on hold and the lender will go for additional research in that regard.