Issue: Rules – January 10, 2021

FHA Mortgagee Letter 2020-49, Revised Form HUD-92900-A, HUD Addendum to Uniform Residential Loan Application, Effective for use immediately, mandatory on March 22, 2021.

Written by: Tracey Rumsey, Staff Writer There are a lot of form changes this year and FHA is no exception in this revision. Read through this article to understand what was changed. Rule Synopsis: Effective dates May be used immediately for existing cases and must be used for FHA case numbers assigned on or after […]

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FHA HECM Updates

Written by: Melinda Hipp, Staff Writer HECM – Home Equity Conversion Mortgages, which are also known as Reverse Mortgages, are an important part of the mortgage lending landscape. Not every lender offers HECM loans, but if you do, we think you will find these updates helpful. Interpretive Comments: FHA Announces 2021 HECM Loan Limit The […]

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Fannie Mae Lender Letter 2021-01 – Dated January 6, 2021

Written by: Lloyd Rutherford, Staff Writer Production was out of control in 2020 and is expected to be robust in 2021 as well.  When this happens, loan quality seems to suffer.  Consider this Lender Letter from Fannie Mae to be a warning about Appraisal quality and the lender’s need to pay attention to avoid buybacks! […]

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Fannie Mae Selling Guide Updates – SEL-2020-07 – Dated December 16, 2020

Written by: Lloyd Rutherford, Staff Writer Selling guide updates are always an important read!  This month there are some big changes that will help you do more business. Rule Synopsis: Fannie Mae is updating their selling guide for a variety of topics. This article will focus on the topics that benefit originators. The updates announced […]

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Fannie Mae Appraiser Update – Dated December 2020

Written by: Lloyd Rutherford, Staff Writer The appraisal can make or break your client’s loan.  You spend all of that time originating and processing a loan only to have it blow up in the appraisal review.  Keeping up with the Facts vs. the Myths helps you close more loans. Rule Synopsis: Fannie Mae publishes a […]

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