Vague and undefined language in the eligibility requirements of the GSEs make it difficult for lenders to determine the mortgage eligibility of projects that include units rented on a short-term basis.
For some sellers, the curbs don’t represent much of a bump in the road. For Quicken Loans, the top GSE seller over the 12-month period, investor/second-home loans were roughly 5.5% of its sales to both Fannie and Freddie.