Are they re-running the news now?
Fannie Mae, the mortgage-finance company under U.S. government control, will loosen rules for homeowners seeking to lower their loan payments by refinancing.
Fannie Mae will drop some credit-score requirements, reduce income-documentation standards and waive the need for appraisals in some cases, according to a notice yesterday to lenders posted on the Washington-based company’s Web site.
(Via For What It’s Worth, via Instapundit.)
Wow. It’s rare that government irresponsibility actually manages to surprise me. But I suppose it makes sense for Fannie, since bailouts are part of their business model now.
Internet Scofflaw 