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Little-known practice can trip up mortgage request (Richmond Times-Dispatch)



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Picture this scenario: You’ve got outstanding credit scores close to 800 and solid equity in your home. All you want is to refinance your current mortgage to take advantage of today’s rock-bottom interest rates. By any measure, your application should rocket through your lender’s system and get you a great rate. But your bank says: Sorry. We can’t do your loan. Fannie Mae’s automated ...

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