Fannie Mae Ends Declining Markets Policy

In just a few months, Fannie Mae has ended their declining markets policy in favor of a nationwide policy that requires reasonable down payments on loans regardless of geography. The policy is a win-win for Fannie and the fair housing community as it addresses both sound underwriting practices and fair lending concerns.

You can read Fannie Mae's press release here or this from Reuters.

update: Freddie Mac follows suit.