Issue: Rules – January 10, 2020

Fannie Mae – Multiple FAQ’s Update – 97% Loans – Cash-Out – Homeowner Education

Written by: Lloyd Rutherford, Staff Writer Keeping up with the agency FAQs can be a challenge when you try to determine what changed.  This is why our experts do that for you!  Read through this article to get a quick update on what changed in this most recent FAQ. Rule Synopsis: Fannie Mae updated two of […]

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Freddie Mac – Reining in Reverse Occupancy

Written by: Lloyd Rutherford, Staff Writer Opening your eyes to what causes lender buybacks or litigation is important if you are going to be in the business of lending money.  The agencies periodically issue fraud trends that they see in our industry, and it is important for all lenders to keep up on what is […]

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Fannie Mae Appraiser Update – Dated December 2019

Written by: Lloyd Rutherford, Staff Writer  Collateral is a big part of the approval process for home financing. That’s why origination staff needs to be sharp on the components of appraisals and how they can affect your loans. Read through this update to learn a few tips you may not have discovered. Rule Synopsis: Fannie […]

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VA- 2020 Loan Limits – Circular 26-19-33 – NEW MC Chart – Loan Limit Calculation Examples – Updated Loan Limits Calculator

Written by: Tracey Rumsey, Staff Writer On the first of each year, we can expect loan limit adjustments from the agencies each year. Here are VA’s updates. Rule Synopsis: The VA County Loan limits that are used to calculate loan guaranty for 2020 have been established. Note the following: County loan limits do not apply […]

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Fannie Mae & Freddie Mac – Resources for Limited English Proficient Borrowers

Written by: Lloyd Rutherford, Staff Writer Fannie Mae, Freddie Mac and the CFPB are making it easier for lenders to step outside of their comfort zone when it comes to providing loan documents in other languages. This update reviews what is now available for lenders to easily use. Rule Synopsis: The GSE’s (Fannie Mae and […]

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