Rules – August 10, 2017

Fannie Mae Day 1 Certainty on Appraised Value FAQ – Updated July 2017

Rule Synopsis: Fannie Mae published an updated FAQ document for “Certainty on Appraised Value” to address questions created by their Day 1 Certainty launch as it relates to appraised values and the associated CU risk score that triggers freedom from reps and warrants related to the appraised property value. The FAQ document is three pages [...]

2018-10-06T19:32:17-05:00November 4th, 2017|

Fannie Mae Property Inspection Waiver FAQs – Updated July 29, 2017

Fannie Mae Property Inspection Waiver FAQs – Updated July 29, 2017 Rule Synopsis: Fannie Mae has updated their Property Inspection Waiver FAQ document to include five recently updated questions and two new questions. We will cover the updated and new questions in this article. The updated FAQ now has 24 questions (previously there were only [...]

2018-10-06T19:36:52-05:00November 4th, 2017|

Fannie Mae Selling Guide Announcement SEL-2017-06 – Dated July 25, 2017

Rule Synopsis: Fannie Mae has expanded the LTVs for ARM loan transactions to match the LTVs for Fixed Rate Loans, with a maximum of 95% financing. Fannie Mae is rolling out a new program called the 5/5 ARM. This may be a great option as rates rise so call me 1st. Fannie no longer requires [...]

2018-10-06T19:38:08-05:00November 4th, 2017|

Fannie Mae Updates Five Documents for the HomeReady® Product: FAQs; Overview; Product Matrix; HomeReady® / Standard Mortgage Comparison Matrix; Loan Officer Fact Sheet – All Dated July 31, 2017. Also included is a job aid showing number of census tracts at 100% AMI, and number with no income limit census tracts – Dated July 2017 

[UPDATED MTP – Fannie Mae HomeReady® Mortgage Guidelines] Rule Synopsis: Curious about buying a home? Programs just came out that make it easier, so call me 1st #ownahome. Fannie Mae updated key documents for the HomeReady® product line. In my review, the changes are limited to those that were announced in the prior two months with [...]

2018-10-16T18:33:50-05:00November 4th, 2017|