Category: Fannie Mae

Fannie Mae Selling Guide Announcement SEL–2020-03 – Updated August 27, 2020

Written by: Lloyd Rutherford, Staff Writer The scariest phrase in mortgage lending today is “Self-Employed Borrower”.  The agencies have gotten hypersensitive to those who own their own companies during a pandemic.  Read through this article to hear a “true confession” and the resources you need to work with clients that are self-employed! Rule Synopsis: Fannie […]

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Fannie Mae Selling Guide Announcement SEL–2020-05 – Dated September 2, 2020 – NEW MTP™ Accessory Unit Standards – What You Need to Know!

Written by: Lloyd Rutherford, Staff Writer Trends in living spaces are changing.  Whether it is a young adult living at home or an aging relative, accessory dwelling units are a popular trend.  Read this update to learn important updates from Fannie Mae. Rule Synopsis: Fannie Mae is updating their selling guide for a variety of […]

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A Popular Trend in Living Space – Young adults living at home to save money or aging relatives that need a little extra support are causing a boom in living units that are part of a primary residence but separate enough for privacy. Comment below, and I’ll send you a fact sheet about how home lenders view these extra spaces.

A Popular Trend in Living Space – Young adults living at home to save money or aging relatives that need a little extra support are causing a boom in living units that are part of a primary residence but separate enough for privacy. Comment below, and I’ll send you a fact sheet about how home lenders view these extra spaces.

Related Article Title: Fannie Mae Selling Guide Announcement SEL–2020-05 – Dated September 2, 2020 – NEW MTP™ Accessory Unit Standards – What You Need to Know! Written by: Lloyd Rutherford, Staff Writer Trends in living spaces are changing.  Whether it is a young adult living at home or an aging relative, accessory dwelling units are […]

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Interesting Fact! Did you know that lenders consider a timeshare an installment loan and not a mortgage loan?  That can be an important detail if you have run into an issue with a timeshare.  Need more details?  PM me and let’s chat!

Interesting Fact! Did you know that lenders consider a timeshare an installment loan and not a mortgage loan?  That can be an important detail if you have run into an issue with a timeshare.  Need more details?  PM me and let’s chat!

Related Article Title: Timeshare Derogatory Credit Issue Question: How is adverse credit on a timeshare viewed by Fannie Mae, FHA and USDA? Answer: Fannie Mae Says If you have no feedback requirements that require you to provide additional information, you should be okay, as long as you have an Approve/Eligible response. Of course, it is […]

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Fannie Mae does not have a minimum distance requirement between your primary residence and a second home. However, they do have other requirements to determine if the home is a true second home.  If you want a fact sheet about the difference between an investment property and second home, comment below and I will send it to you!  [Note:  Use the MTP Second Home or Investment Property as the Fact Sheet]

Fannie Mae does not have a minimum distance requirement between your primary residence and a second home. However, they do have other requirements to determine if the home is a true second home.  If you want a fact sheet about the difference between an investment property and second home, comment below and I will send it to you!  [Note:  Use the MTP Second Home or Investment Property as the Fact Sheet]

Related Article Title: Minimum Distance Requirements Between Primary Home & Second Home Question: Is there a minimum distance required from a second home to the primary residence? MTP™ – Second Home or Investment Property? Answer: No. Lenders may impose them, but Fannie does not. Here are the requirements for a 2nd home from their selling […]

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