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Good News For Anyone Who Has Initiated A Credit Freeze

If you implemented a credit freeze as a result of the security breach at Equifax, Fannie Mae has just announced that they will start underwriting loans with just two credit scores, rather than requiring scores from all three credit bureaus as they have in the past.

Up to this point, if you wanted to get a mortgage you would have to unfreeze your credit, creating a security exposure during the loan process, and then remember to freeze your credit once again after the loan was funded. With Fannie Mae’s announcement, this will not be necessary starting Nov. 18, 2017.

Source of this information is the Oct. 17 Fannie Mae release notes: https://www.fanniemae.com/content/release_notes/du-do-release-notes-11182017.pdf

Author: Chris Swanson

Born and raised in Southern California, Chris Swanson brings a rich background of real estate sales and sales management experience to the company. With over 40 years of residential real estate experience in San Diego; an award winning salesperson for Coldwell Banker Residential Real Estate, as well as holding the positions of Branch manager of several sales offices, District Manager and Regional Manager during his career.

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