source:
  type: guide
  id: fnma-sel-b3-5.3-04
  authority: 'Fannie Mae Selling Guide B3-5.3-04 — Inquiries: Recent Attempts to Obtain
    New Credit'
  description: 'Fannie Mae Selling Guide B3-5.3-04 — Inquiries: Recent Attempts to
    Obtain New Credit.'
  coverage_tier: operative
obligations:
- id: fnma-sel-b3-5.3-04-full
  canonical_id: fnma-sel-b3-5.3-04-full
  section: 'Fannie Mae Selling Guide B3-5.3-04 — Inquiries: Recent Attempts to Obtain
    New Credit'
  type: do
  tags:
  - regulator-direct
  - fnma
  - selling-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: 'Fannie Mae Selling Guide B3-5.3-04 — Inquiries: Recent Attempts to
      Obtain New Credit'
    source_class: fnma-guide
    source_url: https://singlefamily.fanniemae.com/media/document/pdf/selling-guide
    snapshot_id: 5f7b8b79da595d76
    fetched_at: '2026-05-25T14:09:57Z'
    content_hash: sha256:98cf85a02861bbe84914a0e339b327c8fc131869a8a573882007bbeea60c5701
    paragraph_quote: '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.'
  judgment: false
