3 ms·
It is set by the organizations that purchase mortgages from the bank. If the borrowers don't meet these guidelines they won't buy the mortgage and the bank woul
by hnburnsy 4y ago
It is set by the organizations that purchase mortgages from the bank. If the borrowers don't meet these guidelines they won't buy the mortgage and the bank would need to hold it, which they typically don't want to. See FNMA and FHLMC.