Rules – June 10, 2017

Fannie DU Version 10.1 Release Notes Topics – Scheduled for Release July 29, 2017

[Maximum DTI | Disputed Tradelines | ARM LTVs ratios | Self-employment Income Docs | DU Validation Services | Property Inspection Waivers] Rule Synopsis: Mortgage rule update on 7-29-17 – Fannie will no longer require certain compensating factors for ratios between 45% and 50%. Fannie considers all timeshare loans as installment loans and not mortgage loans. [...]

2018-10-06T20:02:48-05:00November 4th, 2017|

Fannie Updates FAQs for Appraisal and Property Related Questions – May 2017

Rule Synopsis: Fannie now allows financing on “tiny homes” and “container homes” as long as the appraiser can find comparable properties. This article outlines the changes we can expect to see when DU 10.1 is released over the July 29, 2017 weekend. They are plentiful: DU Risk Assessment Maximum Allowable DTI Disputed Tradelines ARM LTV [...]

2018-10-06T20:03:33-05:00November 4th, 2017|

Fannie Mae Releases Update to Underwriting FAQs – Updated May 2017

Rule Synopsis: Fannie Mae has updated their FAQs for underwriters. There are eight total questions on this list. Only one new question. Interpretive CommentsThe new question is listed below: Q7: Addresses whether or not Fannie Mae requires a borrower signature on the Closing Disclosure. A7: No. But Fannie agrees that it is a best practice [...]

2018-10-06T20:05:18-05:00November 4th, 2017|