Brandon Butler

Fannie Mae and Freddie Mac Issue Reminder Notice Regarding the Impact to the Taxpayer First Act and Use of Tax Return Info – Dated November 6, 2019

Written by: Lloyd Rutherford, Staff Writer New Disclosure Alert! Pay attention to this article to ensure that you avoid any buybacks from Fannie Mae, Freddie Mac or your investors! Rule Synopsis: Fannie and Freddie provide a reminder notice of the impact and obligation to lenders trying to obtain information about tax-related documentation for borrowers. Interpretive […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

FHA – 2020 Loan Limits, Mortgagee Letter 2019-19 – Effective Jan. 1, 2020

Written by: Tracey Rumsey, Staff Writer Just because loan limits change does not mean that loan limits increase. In some areas they do and in other areas they actually decrease. Read through this update to determine how the new loan limits affect your area. Rule Synopsis: Effective Date The mortgage limits announced in the letter […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

VA – Charging Points on a Streamline IRRRL

Question: Can you charge points without requiring a new appraisal on a VA Streamline IRRRL? VA Refinance Comparison – Chart Answer: The newest guidelines regarding points on IRRRLs were published in Circular 26-19-22. While VA has no prohibition on charging reasonable points, they do have rules regarding adding those points into the loan amount. See […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

FHA – High School as Employment History

Question: My client has been employed for 1 year and previous to that was a high-school graduate. Will his time in high school count as his employment history? Answer: FHA will allow only one year of employment (and even no job history in the case of a new job offer right after specialized training or […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

FHA – Gift of Equity to Pay Off Debt

Question: I have a Father selling his home to his son and he would like to give a gift of equity to pay off debt at closing so that the son can qualify to purchase the property. Can this be done? Gift Funds and Gifts of Equity Chart Answer: FHA has no prohibition for using […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

Scroll to Top