Fannie Mae Selling Guide B3-5.3-04 — Inquiries: Recent Attempts to Obtain New Credit
Fannie Mae Selling Guide B3-5.3-04 — Inquiries: Recent Attempts to Obtain New Credit.
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Verbatim provisions from Fannie Mae Selling Guide B3-5.3-04 — Inquiries: Recent Attempts to Obtain New Credit — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
Fannie Mae Selling Guide B3-5.3-04 — Inquiries: Recent Attempts to Obtain New Credit
B3-5.3-04, Inquiries: Recent Attempts to Obtain New Credit (04/01/2009) Introduction This topic contains information on inquiries: recent attempts to obtain new credit. Inquiries: Recent Attempts to Obtain New Credit Inquiries: Recent Attempts to Obtain New Credit The lender must review the section of the borrower’s credit report that indicates the presence of creditor inquiries to determine the number and recency of the inquiries. Recent inquiries may indicate that the borrower has been actively seeking new credit accounts. The presence of a large number of unrelated inquiries represents higher credit risk (whether or not the borrower actually obtained credit as a result of the inquiry). The presence of many recent inquiries in combination with a Published May 6, 2026 469 significant number of recently opened accounts or delinquent accounts represents a high credit risk. When the credit report indicates that recent inquiries took place, the lender must confirm that the borrower has not obtained any additional credit that is not reflected in the credit report or the mortgage application. If additional credit was obtained, a verification of that debt must be provided and the borrower must be qualified with the monthly payment. Recent Related Announcements There are no recently issued Announcements related to this topic.