There's pressure on mortgage bankers to sharpen their underwriting and servicing skills now that Fannie Mae and Freddie Mac are opening their doors to nonconventional mortgages.

The chairmen of Fannie and Freddie have said their agencies are willing to guarantee more types of mortgages. At a New York conference last week, representatives of securities firms and credit ratings agencies urged lenders to originate and police the newer loans carefully-or risk losing investor support.

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