Issue: Rules – December 10, 2019

VA Circular 26-19-30, Updated Guidance for Blue Water Navy Vietnam Veterans Act of 2019 – NEW MTP™ How the Blue Water Act Changed VA Home Financing

Written by: Tracey Rumsey, Staff Writer Big changes are coming to VA financing programs effective January 1, 2020, so read through this update to be sure your loans are covered during the transition period. Rule Synopsis: Effective with loans closed on or after January 1, 2020: For loans above $144,000 made to purchase, refinance (cash-out […]

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What Was Added? What Was Changed on Mortgage Currentcy?

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 as well as changes to our charts, checklist, and MTPs that are changed each month, due to guideline updates. What Was Added This Month! Mortgage Currentcy […]

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USDA Rural Development will begin charging a new “Technology Fee”

Written by: David Hail, Staff Writer There are more fees to disclose on USDA loans so read through this article to find out what needs to be disclosed and when. Rule Synopsis: On November 8, 2019 USDA Rural Development announced that they will be collecting a new “Technology Fee” from Lenders effective January 1, 2020. […]

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Fannie Mae Selling Guide Announcement SEL–2019-09 – Dated December 4, 2019 – NEW Chart – Bridge/Swing Loans – All Agencies

Written by: Lloyd Rutherford, Staff Writer Big changes for non-applicant debts in DU as well as new construction real estate tax calculations. Pay close attention to this article to avoid losing any loans! Rule Synopsis: Fannie Mae is updating their selling guide for a variety of topics. This article will focus on the topics that […]

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Freddie Mac – LPA Feedback Message Updates – Effective December 3, 2019 and January 25, 2020 and February 4, 2020 – Dated November 21, 2019

Written by: Lloyd Rutherford, Staff Writer One of the best things you can do for your business is to understand how your AUS systems work. This update on Loan Product Advisor shares some important changes you need to know to get the results you want! Rule Synopsis: Freddie Issues notification that they are updating Feedback […]

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