Columbus MS Mortgage Company Announces Fannie Mae to Begin Averaging FICO Scores

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/ EIN News / – Columbus, Aug. 24, 2021 (GLOBE NEWSWIRE) – JTS & Co. (NMLS # 55275), a mortgage company located at 4158 Hwy. 45 North, Columbus, MS 39705, revealed that starting September 18, 2021, Fannie Mae will begin averaging FICO scores for borrowers applying for home finance assistance. This means that the average scores of the borrower and the requesting co-borrower will be averaged by Fannie Mae to check if they are eligible, instead of using the lower score among the borrower’s FICO scores or of the co-borrower.

Previously, with their old rule, when the borrower and co-borrower were not eligible for real estate financing from Fannie Mae, they were recommended to use financing from the Federal Housing Administration (FHA) or a another option. With the revised rules where Fannie Mae averages the borrower’s and co-borrower’s FICO scores, they have a choice between conventional real estate financing and that provided by the FHA. They can look at both options and then choose the one they prefer.

The Federal National Mortgage Association, better known as Fannie Mae, is a government sponsored company that became a publicly traded company in 1968. Its primary goal is to expand the secondary real estate finance market through the securitization of such real estate finance transactions, with the result that lenders can reinvest their assets in more loans, which means there would be more lenders in the real estate finance market. This reduces dependence on savings and loan associations or savings banks.

JTS & Co. is an expert in real estate financing. They can help people buying a home receive the lowest interest rate possible for their situation, faster closing times, and the best possible customer service. They have been offering their services as real estate finance advisors since 1996, throughout Mississippi and Alabama. They have also been named as the leading home finance company for 12 consecutive years in the Golden Triangle. They offer various types of real estate finance agreements to ensure that home buyers can choose the best possible arrangements. These include the financing of a conventional house; financing of home renovation; FHA house financing; financing of the jumbo house; reverse home financing; refinance; USDA financing; and the financing of the VA house.

Jeff Farnham (NMLS # 89796), President of JTS & Co., says, “We have real estate finance advisors who are dedicated to matching clients with the financing deal that best meets their needs. We recognize that each borrower has their own financial history and goals. That’s why we offer a diverse portfolio of products for all types of buyers and homeowners looking to buy or refinance. Whether you are buying your first home or your forever home, investment property, self-employed, or have high equity, we’ll find your home finance solution at your best rate.

The finance contract for a conventional home requires a minimum down payment of 5 percent. They also offer additional extended conventional residential financing programs that require a 3 percent down payment. Features of conventional real estate financing include fixed interest rates with options of 10 years or up to 30 years; down payments of less than 20 percent required for private mortgage insurance; and closing costs can be paid by the seller with limitations.

JTS & Co. also offers several options for FHA real estate finance agreements. There are various features of such a real estate finance deal. These include being a great option for first time home buyers; the loan can be used for both purchase and refinancing operations; buyers are required to pay 3.5 percent of the sale price as a down payment; possibility of refinancing at JTS & Co. without the need for expertise; and more.

Those interested in learning more about the services offered by JTS & Co. can visit their website, contact them by phone or email, or visit the company’s Facebook page.

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For more information on JTS & Co. – NMLS # 55275, contact the company here:

JTS & Cie – NMLS # 55275
Tyler Farnham – NMLS # 1450553
(662) 329-9090
[email protected]
4158 highway. 45 North,
Columbus, MS 39705


Tyler Farnham - NMLS#1450553

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