In an effort to break the logjam in mortgage refinancing and allow homeowners to take advantage...

|By:, SA News Editor

In an effort to break the logjam in mortgage refinancing and allow homeowners to take advantage of record low rates, Fannie Mae (FNM) bends the rules (.pdf) - dropping credit-score requirements, ignoring income-documentation standards, and waiving the need for appraisals. Sounds vaguely familiar.