Issue: Q&A – October 25, 2019

VA E-signing Requirements

Question: Are there any documents excluding closing documents that need to be wet signed by the Veteran, or will VA allow all documents to be e-signed? Answer: VA states in both Chapter 4 and Chapter 9 that “digital signatures can be accepted as an original signature or wet signature as defined by the Electronic Signatures in […]

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Solar Panel Considerations in CLTV

Question: Do leased solar panels with a lien on the title need to be factored into the CLTV? – Solar Panels – Chart – NEW MTP™ What Every Homeowner Needs to Know About Solar Panel Obligations Answer: Fannie Mae does not address this specifically (whether a leased solar panel lien should be included in CLTV).  […]

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Union Worker – Using Employment History as Apprentice

Question: Does the time spent as an apprentice prior to joining the union count as work history? My client has a 2-year work history as an apprentice and less than 12 months as an actual “union” worker. Answer: Fannie and Freddie do not specifically or directly “call-out” union workers to specify two full years “in […]

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Refinance for the Purpose of Paying Off a Second Lien

Question: My client has a home improvement loan as a second lien, and he would like to refinance to combine them. Can this be done as a rate/term refinance? Refinance Loans – All Agencies Chart Answer: Fannie Mae and Freddie Mac agree on this subject. Anytime you are paying off subordinate financing for agency loans, […]

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Solar Panels and HERO Loans

Question: We are running into an issue with an FHA Streamline refinance because the HERO loan that is on the title for Solar Panels does not subordinate.  How does FHA handle this? Solar Panels – Chart – NEW MTP™ What Every Homeowner Needs to Know About Solar Panel Obligations Answer: Our understanding is that HERO […]

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