My ex is on the first mortgage and I am on the deed with him. He does not live with me but pays the first. The lender is willing to consider a subordination because it is a HELOC as long as I pay it down some. Now the broker I am working with tells me Fannie Mae will not allow the subordination because he is not part of the loan I currently trying to secure. He will remain on the deed though. Does this sound right?

Normally a HELOC is opened with the same person of the original loan, if this is not the case, there is nothing you can really do about it expect keep making at least minimum payment on that HELOC account.