Fannie Mae Selling Guide B3-5.3-01 — Number and Age of Accounts
Fannie Mae Selling Guide B3-5.3-01 — Number and Age of Accounts.
Verbatim regulatory text
Verbatim provisions from Fannie Mae Selling Guide B3-5.3-01 — Number and Age of Accounts — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
Fannie Mae Selling Guide B3-5.3-01 — Number and Age of Accounts
B3-5.3-01, Number and Age of Accounts (04/01/2009) Introduction This topic contains information on the number and age of accounts. Number and Age of Accounts Number and Age of Accounts The lender must review the borrower’s credit report to determine whether they have an older established credit history or a newly established credit history, and whether there are a significant number of recently opened accounts or a mix of new accounts and older accounts. Credit histories that include older, established accounts generally represent lower credit risk. However, an older, established credit history that includes a significant number of recently opened accounts may indicate that the borrower is overextended, and thus will represent a higher credit risk. A newly established credit history does not automatically represent a higher credit risk, since making payments as agreed on newly opened accounts represents less of a risk than not making payments as agreed on older, established accounts.
Operationalizing Fannie Mae Selling Guide B3-5.3-01 — Number and Age of Accounts
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Source of record: https://claudeforcompliance.com/regs/fnma-sel-b3-5-3-01/
· register fnma-sel-b3-5-3-01 · Claude for Compliance. Free to read and download;
see regulatory updates and methodology.