Rules - January 10, 2018

Fannie Mae-Appraisal and Property Related Frequently Asked Questions (FAQs) – Updated December 21, 2017, and Collateral Underwriter FAQ’s – Updated December 2017

By: Lloyd Rutherford-Staff Writer Fannie Mae has added to their FAQ document for appraisals and this month contains some goodies!  Our expert has taken the time to review the new and updated questions in this article. Rule Synopsis: Fannie Mae has published updated FAQ document for Appraisal and Property Related Questions and Collateral Underwriter Questions. [...]

2018-06-01T13:32:54-05:00January 9th, 2018|

VA-Circular 26-17-41, 2017 Department of Veterans Affairs County Loan Limits, December 12, 2017-Effective January 1, 2018

By: Tracey Rumsey-Staff Writer Right in line with the other agencies, VA has issued their update on Loan Limits.  Be sure to check out the latest loan limits in this article. Rule Synopsis: The VA County Loan limits that are used to calculate loan guaranty for 2018 have been established. Effective Dates Interest Rate Refinance [...]

2018-09-25T19:08:16-05:00January 9th, 2018|

FHA INFO #17-59, Modification of Initial Mortgage Insurance Premium (IMIP) Formula for Home Equity Conversion Mortgage (HECM) Refinance Cases, December 29, 2017

By: Tracey Rumsey – Staff Writer This article contains important changes if you work with HECM loans!  Specifically, the formula for the modification of initial mortgage insurance premium is addressed along with examples. Make sure you update your knowledge by reading this important update! Rule Synopsis: The formula was modified on November 14, 2017, and [...]

2018-06-01T13:31:23-05:00January 9th, 2018|

VA-Circular 26-17-43, Clarification of Third-Party Verification Requirements, December 29, 2017

By: Tracey Rumsey – Staff Writer If you offer VA loans and use Third-Party verification services, it is important to read this update from VA. Rule Synopsis: The purpose of this Circular is to clarify the Department of Veterans Affairs (VA) policy regarding third-party verification requirements for loan underwriting. VA has received inquiries from lenders [...]

2018-06-01T13:30:11-05:00January 9th, 2018|