Rules – August 10, 2018

The Conference of State Bank Supervisors (CSBS) Announces Nationwide Test-Dated August 8-2018-Effective August 1, 2018

Written By: Tammy Butler, Master CMB If you have a loan officer license, or manage anyone that does, this is a must-read article. Rule Synopsis: The Conference of State Bank Supervisors (CSBS) announced August 8, 2018 that all states and U.S. territories now use a single, common exam to assess mortgage loan originators (MLOs), simplifying [...]

2018-08-09T19:48:43-05:00August 9th, 2018|

Fannie Mae Selling Guide Announcement SEL-2018-06 – Dated August 7, 2018

Written By: Lloyd Rutherford, Staff Writer Hallejuah!  Fannie Mae must be feeling really positive about the housing market.  Read through this update to find out what has changed, and one additional document you will no longer need. Rule Synopsis: Fannie Mae is updating their selling guide for a variety of topics. This article will focus on [...]

2018-08-09T19:01:02-05:00August 9th, 2018|

Fannie Mae Updates their Fact Sheet for Community Seconds and their Community Seconds Checklist – Dated July 2018

Written By: Lloyd Rutherford, Staff Writer If you understand how to use community seconds, especially in high cost areas, you have a leg up on your competition!  Read this article to understand how these are used and how they can help you gain more business. Rule Synopsis: Fannie Mae recently updated their requirements for Community [...]

2018-08-09T19:01:22-05:00August 9th, 2018|

Fannie Mae – Desktop Underwriter/Desktop Originator Release Notes DU Version 10.2 September Update – Dated July 24, 2018 – Effective September 22, 2018.

Written By: Lloyd Rutherford, Staff Writer This is a big update with a lot of information on Fannie Mae’s new Higher LTV refinance option, and DU messaging for income and employment. Rule Synopsis: Fannie Mae announces the newest DU Version Update for Version 10.2. The changes announced will be eligible for casefiles submitted or resubmitted [...]

2018-08-09T19:01:45-05:00August 9th, 2018|