Feb 4, 2008

Daniel Mudd on Fannie Mae underwriting

Fannie Mae, the largest source of money for U.S. home loans, would avoid taking on excessive risk under a government plan allowing it to buy home loans as high as $729,500. It’s wrong to say there is a magic line between $417,000 and $418,000, one part is not risky, one part is risky. We will follow the same risk policy, the same underwriting criteria, the same conservative philosophy.

~ Daniel Mudd, CEO Fannie Mae, Bloomberg, January 29, 2008

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