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Fannie Relaxes Rules for Refinancing

Fannie Mae will soon come up with a plan that can encourage owners of existing homes to refinance into new home loans and help them get the benefit of lower interest rates.

The proposed plan is expected to include elimination of credit-score requirements and in some cases, waiver of the need for appraisals.

However, it is too early now to say that the measures being taken by the state-sponsored mortgage finance company will have any impact on mortgage insurers and mortgage-bond investors. This is what the analysts believe about Fannie Mae's relaxed rules for loans.

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