By easing up on mortgage buyback requests, Fannie Mae and Freddie Mac just went a long way toward encouraging lenders to make more loans to borrowers with lower credit scores.

The most significant change to the government-sponsored enterprises' policies is that lenders now can get relief from buybacks following a quality control review of a loan within 30 to 120 days. Fannie and Freddie will provide written notice of a successful review. Think of it as a "Get Out of Putbacks, Free" card.

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