Issue: Rules – April 10, 2021

Fannie Mae Selling Guide Announcement LL-2021-09 and Freddie Mac Bulletin 2021-13 – Both Dated April 8, 2021

Written by: Lloyd Rutherford, Staff Writer We haven’t seen a change like this in years.  This article is a must read for any mortgage lender. Rule Synopsis: Big changes coming for both Fannie and Freddie regarding the GSE Patch we have been working with since 2014, which allowed the agencies to purchase loans from their […]

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FHA Mortgagee Letter 2021-09, Revised Forms HUD-9991, FHA Condominium Loan Level/Single-Unit Approval Questionnaire and Revised Form HUD-9992, FHA Condominium Project Approval Questionnaire, Effective for use immediately, mandatory on May 17, 2021.

Written by: Tracey Rumsey, Staff Writer FHA is updating their Condominium Single-Unit approval questionnaire and their Project Approval questionnaire.  Read through this article if your finance FHA condominiums. Rule Synopsis: Effective dates Lenders may utilize the revised forms immediately. They must use the revised Form HUD-9991 for case numbers assigned on or after May 17, […]

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CFPB – Rescinds Abusiveness Policy Statement to Better Protect Consumers – Dated March 11, 2021

Written by: Lloyd Rutherford, Staff Writer The CFPB is gearing up in another area of compliance and that is UDAAP [Unfair, Deceptive, or Abusive Acts or Practices].  Read this article to find out what has been rescinded from the previous administration. Rule Synopsis: The CFPB is changing it up! This policy announcement rescinds a policy […]

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Fannie Mae Lender Letter LL–2021-08 – Dated March 10, 2021 and Freddie Mac Bulletin 2021-11 – Dated March 31, 2021

Written by: Lloyd Rutherford, Staff Writer Second homes and Investment Property financing has tightened up based on a new mandate to Fannie Mae and Freddie Mac from the Treasury Department.  Pay attention to this article because it may affect some of the loans you have in your pipeline. Rule Synopsis: Fannie Mae and Freddie Mac […]

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What Was Added? What Was Changed on Mortgage Currentcy This Month?

In each Rules Issue, we post, “What was Added and What Was Changed!” This helps our subscribers stay up to date on all of the additions to the site and changes to our charts, checklist, and MTPs that are changed each month due to guideline updates. What Was Added This Month! Charts & Checklists: Found […]

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