Rules - July 10, 2018

Mortgage Currentcy™ Calculator – Simplifying the VA Loan Calculation-NEW Mortgage Currentcy™ Calculator!

By: Tracey Rumsey, Staff Writer Mortgage Currentcy™ gets a lot of questions regarding how to calculate the down payment when there is partial eligibility or where sales prices exceed county limits. To help you figure this out, we developed an easy-to-use calculator. Read more to find out why VA lenders will love this! Rule Synopsis: It’s [...]

2018-07-13T13:32:37-05:00July 9th, 2018|

CFPB Drops Zillow RESPA Case – What This Means for the Industry!

By: Tammy Butler, Master CMB Article Intro Paragraph What does it signal to the industry that the CFPB has dropped the Zillow RESPA case? Read this article to find out our opinion. Rule Synopsis: Following is the background of this inquiry as noted in the SEC filing by Zillow: “As previously disclosed, the Consumer Financial Protection [...]

2018-07-10T08:20:22-05:00July 9th, 2018|

Fannie Mae-Combined FAQ and Fact Sheet Article – Project Standards Requirements FAQ’s – Updated June 2018 – Ineligible Condo Characteristics – Updated June 2018 and At-a-Glance Condo and Insurance Requirements – Updated June 2018

By: Lloyd Rutherford, Staff Writer Fannie Mae is really pumping out the resources to help you do more condo loans and educate you on their dramatic changes. Anyone who has condos in their origination area needs to pay attention to this update and the update from Freddie Mac this month! Rule Synopsis: Due to multiple [...]

2018-07-10T08:21:41-05:00July 9th, 2018|

Freddie Mac- Multiple Selling Guide Updates – Bulletin 2018-10 – Dated June 27, 2018 [3 UPDATED Charts & 2 UPDATED MTPs – See Supporting Resources]

By: Lloyd Rutherford, Staff Writer Financing condos has just become much easier in this “all good news” release from Freddie Mac.  There are some MAJOR changes that will affect your present business and will open up a lot of new business potential.  Read this and the supporting resources to help expand your business. Rule Synopsis: Freddie [...]

2018-07-10T08:22:51-05:00July 9th, 2018|

Fannie Mae Selling Guide Announcement SEL-2018-05 – Dated June 5, 2018 – NEW CHART-Manufactured Homes-All Agencies-UPDATED Chart-Condo Project Reference Chart-UPDATED MTPs™ Fannie Condo Project Approval Rules-Fannie Prohibited Condos, NEW MTP™ – Manufactured Homes Back in Fashion

By: Lloyd Rutherford, Staff Writer Manufactured Homes are becoming a strong and viable alternative in areas where prices have become unaffordable for many buyers.  The new options in this sector are looking pretty nice, and gone are many of the “old stigmas” about manufactured housing.  All originators should take a look at this update to [...]

2018-07-10T10:49:57-05:00July 6th, 2018|