Fannie Mae Improved Its Underwriting Standards

Fannie Mae / Federal National Mortgage Association (OTCBB:FNMA)’s CEO indicated at the MBA’s annual convention that the mortgage giant has “advanced” its underwriting standards. However, emphasizing the need to fix the problems of the past, the organizations’s CEO cautioned that overhauling everything about the current system could result in negative long-term consequences for the housing market and the stability of the U.S. economy. Fannie Mae’s advanced underwriting standards Outlining the progress made, Timothy J. Mayopoulos, president and chief executive officer of Fannie Mae / Federal National Mortgage Association (OTCBB:FNMA), pointed out that Fannie Mae has substantially improved its credit quality, advanced appropriate…