[May 16, 2008] Fannie Mae Scraps Higher Down Payment Requirements - Down 3% Tweet (Midnight Trader Via Acquire Media NewsEdge) Boston, May 16, 2008 (MidnightTrader via COMTEX News Network) -- Fannie Mae (FNM) says it is doing away with higher minimum down payment requirements for borrowers in distressed real estate markets. It will require minimum down payments of between 3% and 5% for all loans that it guarantees. That replaces a December policy that required a higher minimum if the loan was for a home in a market with declining real estate prices. The move is part of its effort to help resuscitate the flagging mortgage market. Price: 29.31, Change: -0.92, Percent Change: -3.04 Copyright (C) 2008 MidnightTrader.com. All rights reserved. Unauthorized reproduction is strictly prohibited. [ Back To TMCnet.com's Homepage ]