Rules - April 10, 2016

USDA Income and Property Eligibility Guide Released April 6, 2016

Rule Synopsis: While the website was supposed to go active March 30, 2016 it actually went active April 6, 2016. I was told that there were some unforeseen issues that had to be worked out first, but a new notice was not sent out to the lending community explaining the delay. In any event, it [...]

2017-12-27T13:03:46-05:00November 3rd, 2017|

USDA Rural Development Update on Student Loans and Their Impact in the Total Debt Ratio

Updated Chart on 5/9/2018 – Student Loan Chart/Checklist- FHA/VA/USDA/Conventional Comparison Rule Synopsis: An important clarification from USDA has been made regarding how student loan debt affects the debt ratio. Make sure your clients are getting the latest information and contact me! USDA clarifies their guidelines regarding how student loan debt affects the debt ratio. The [...]

2018-05-10T14:22:10-05:00November 3rd, 2017|

FHA-HUD 4000.1 Transmittal Updates – March 14 2016

Rule Synopsis: FHA did a ton of updates to the 4000.1 Handbook. (I do love their new system of documenting all of their changes in these ‘Transmittal’ documents.) The full Transmittal is attached and includes the 4000.1 in its entirety, but I’m guessing you aren’t really interested in looking through all 1,012 pages. Interpretive CommentsSo [...]

2017-12-27T13:03:47-05:00November 3rd, 2017|