What are Fannie Mae's My Community Mortgage guidelines as far as Collections go ?

Answer 1

Dont know Fannie but Freddie will want them paid. Medical is different.

Answer 2

The lender I worked for that did My Community loans treated them the same way they did any of their loans. You need to ask the individual lender how they treat collections.

This particular lender didn't worry too much about collections until the aggregate amount was $5000. Then ALL collections had to be paid. This is not to say liens or judgements were treated this way, plus the credit score and other creature factors could have made the loan decline anyway.