While the economy seems to be on a slight upward track and the real estate market is leaning in the right direction, there is still lots to be desired. Fannie Mae wants to encourage investment in real estate and they recently revised their restrictions on investor purchasing. Previously, investors were only allowed to hold 4 mortgages at any given point in time. Now Fannie Mae, via their Homepath loan program, will allow investors to hold up to 20 mortgages at one time. This could be huge! I have said for a long time that if the restrictions on investors were eased or lifted, the real estate market, and consequently the overall economy, would recover quicker and with less damage. Will this move be enough? Is it too late to correct our path or to energize the economy? Is this even the right time of year for a move like this? I don't know, but I see this as a huge positive and a step in the right direction to resuming a normal lending environment and correcting the course after an over-correction.
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