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What Was Added? What Was Changed on Mortgage Currentcy This Month?

In each Rules Issue, we post, “What was Added and What Was Changed!”  This helps our subscribers stay up to date on all of the additions to the site as well as changes to our charts, checklist, and MTPs that are changed each month, due to guideline updates. The COVID-19 Updates keep coming, but there […]

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Freddie Mac Selling Guide Updates – Bulletin 2020-31 – Dated August 5, 2020

Written by: Lloyd Rutherford, Staff Writer Freddie Mac is joining Fannie Mae in getting back to updating their underwriting guidelines that do not involve COVID.  Read through this update for some important changes to monthly obligations and appraisals. Rule Synopsis: Freddie Mac is updating their selling guide for a variety of topics. This article will […]

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FHA Mortgagee Letter 2020-24, Revision of Effective Date for COVID-19 – Updated Temporary Guidance for Verification of Self-Employment; Rental Income

Written by: Tracey Rumsey, Staff Writer This article highlights some important temporary guideline changes for FHA loans, especially for clients who are self-employed or have rental income. If you work with FHA loans this is a must-read! Rule Synopsis: Effective dates: Verification of business operations for self-employed borrowers and the rental income guidance is effective […]

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Fannie Mae SEL–2020-04 – Dated August 5, 2020 and DU Version 10.3 August Update – Dated July 29, 2020 – Updated Solar Panels Chart – All Agencies

Written by: Lloyd Rutherford, Staff Writer Finally, we are getting guideline updates that do not center on COVID!  In this article stay up to date on Fannie Mae’s latest policy updates and changes. Rule Synopsis: Fannie Mae is updating their selling guide for a variety of topics. This article will focus on the topics that […]

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Fannie Mae – Updated FAQs for COVID – Dated July 29, 2020 and Freddie Mac – Updated FAQs for COVID – Dated July 29, 2020

Written by: Lloyd Rutherford, Staff Writer The agencies are being bombarded with questions during COVID.  This FAQ addresses many of the most common questions.  Take the time to read through these and make your life easier! Rule Synopsis: The GSE’s (Fannie Mae and Freddie Mac) have updated their FAQ documents for COVID-related (temporary) changes to […]

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