Fannie Mae Lender letter (03/10) for second properties - Query.

[Anurag D.]

Reference: https://singlefamily.fanniemae.com/media/25286/display

Hello,

Regarding recent Fannie Mae directives, I am seeking to understand impact that an investor could observe ( on loan-amount, down-payment, DTI etc..)

1. restrictions is a 7% limit on our acquisition of single-family mortgage loans secured by second home and investment properties.
- how does it translate in simple terms :)

2. be underwritten with Desktop Underwriter(DU)

- What impact would be possible with above process change.

Thank you.