brandonbutler

About Brandon Butler

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So far Brandon Butler has created 91 blog entries.

USDA recently updated their student loan payment requirements. Previously lenders needed to use 1% of the loan balance. NOW, it has been reduced to the higher of .50% of the loan balance OR the actual payment that is reflected on the credit report!

Related Article Title: USDA – Student Loan Repayment Calculation for USDA Rural Development SFH Guaranteed Loans – Effective September 23, 2019 Written by: David Hail, Staff Writer Calculating the correct student loan payment for a mortgage applicant can be a moving target depending on the guidelines. With this update, USDA makes a huge change in [...]

2019-10-10T09:05:33-05:00October 10th, 2019|Social Media Posts, USDA|

FHA has updated their reverse mortgage or HECM requirements to protect the residential rights of a non-borrowing spouse. If you are interested in a quick update, please comment below.

Related Article Title: FHA Mortgagee Letter 2019-15 – Updates to Mortgagee Optional Election (MOE) Assignment for Home Equity Conversion Mortgages (HECMs) with FHA case numbers assigned prior to August 4, 2014 – Dated September 23, 2019 Written by: Tracey Rumsey, Staff Writer Although this update is more investor or servicer oriented, there are a couple [...]

2019-10-10T09:02:20-05:00October 10th, 2019|FHA, Social Media Posts|

Did you know that you can get a reverse mortgage on a condo? This may be a great option to explore as you plan your retirement or look for additional income sources during retirement. Contact me and we can go through the details of the program.

Related Article Title: FHA Mortgagee Letter 2019-17- Home Equity Conversion Mortgage (HECM) Program – Condominium Requirements – Dated September 27, 2019 Written by: Tracey Rumsey, Staff Writer Those of you that work with reverse mortgages need to read through this important update along with previously written information on this subject which is linked in supporting [...]

2019-10-10T08:59:11-05:00October 10th, 2019|FHA, Social Media Posts|

There are big changes to the Employer Assisted Homeownership Benefits guidelines that are very positive for both the employer and employee.  As employers compete for talented employees, this is one way they are winning that game. Employers, if you do not know how this works, contact me today!

Related Article Title: Freddie Mac – Bulletin 2019-2019– Dated October 2, 2019 Written by: Lloyd Rutherford, Staff Writer Wow! Big update from Freddie Mac this month. There are lots of little details so make sure that you read through this update carefully! Rule Synopsis: Freddie Mac is updating their selling guide for a variety of [...]

2019-10-10T10:21:39-05:00October 10th, 2019|Freddie Mac, Social Media Posts|

Freddie Mac now requires a minimum of a 12-month history for hourly, commission, bonus, overtime and tip income.

Related Article Title: Freddie Mac – Bulletin 2019-2019– Dated October 2, 2019 Written by: Lloyd Rutherford, Staff Writer Wow! Big update from Freddie Mac this month. There are lots of little details so make sure that you read through this update carefully! Rule Synopsis: Freddie Mac is updating their selling guide for a variety of [...]

2019-10-10T10:23:10-05:00October 10th, 2019|Freddie Mac, Social Media Posts|