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Lenders likely to order second, last-minute credit report before closing on a mortgage

May 16, 2010 3:00:00 AM - latimes.com
Changes taking effect June 1 are part of Fannie Mae's 'loan quality initiative' to cut down on slipshod underwriting and fraud by borrowers.

If you're thinking about applying for a home mortgage this year, here's some important news: Beginning June 1, your lender is likely to order a second full credit screening immediately before closing.