Rules - January 10, 2018

Fannie Mae Selling Guide Announcement SEL-2017-10 – Dated December 19, 2017-Effective Immediately

By: Lloyd Rutherford-Staff Writer Fannie Mae has issued some business-changing updates in this announcement.  Read through this issue to get update on Borrowers with frozen credit, rules on premium pricing, properties owned by an LLC and Texas Section 50(a)(6) loans. Rule Synopsis: Fannie Mae is updating their selling guide for a variety of topics. This [...]

2018-06-01T13:27:06-05:00January 9th, 2018|

Freddie Mac Bulletin 2017-28 – Dated December 14, 2017-Effective Immediately-New Mortgage Talking Points™- How To Use New Salary or New Job Income to Qualify Before Closing

By: Lloyd Rutherford-Staff Writer Freddie Mac is making it easier for people receiving a raise or getting a new job after closing to use that income to qualify!  Great new Mortgage Talking Points to share with your referral base.  Freddie has issued other updates in this bulletin that may also have a direct impact on [...]

2018-06-01T13:26:31-05:00January 9th, 2018|

CFPB-Consumer Financial Protection Bureau – Federal Register Final Rule and Official Interpretations – Dated August 30, 2017 (ATR/QM) and November 9, 2017(HPML Exemption)

By:  Lloyd Rutherford-Staff Writer With the QM [Qualified Mortgage] and ATR [Ability to Repay] rules came thresholds that cannot be exceeded without becoming a high-cost mortgage.  This update is the yearly threshold adjustment. Rule Synopsis: The CFPB is required to calculate annually the dollar amounts for various topics contained in Regulation Z (aka The Federal [...]

2018-06-01T13:25:58-05:00January 8th, 2018|

Fannie Mae-Desktop Underwriter Credit-related Error Codes – Job Aid – Dated December 10, 2017 [NEW CHART-DU Credit Related Error Codes]

By:  Lloyd Rutherford-Staff Writer Error codes on any AUS system can be very frustrating.  Having a great reference document handy to cure the issue immediately saves a lot of time and aggravation.  In this article, you’ll find a fantastic Job Aid from Fannie Mae for their DU system. Rule Synopsis: Fannie Mae published a DU [...]

2019-05-31T01:48:10-05:00January 8th, 2018|