Issue: Rules – June 10, 2019

Fannie Mae Lender Letter LL-2019-06 – Dated June 5, 2019 – Effective July 20, 2019

Written by: Lloyd Rutherford, Staff Writer If you work with the HomeReady program, this is an update that may blow up your loans if you do not pay attention. Severe changes to this program will soon go into effect. Rule Synopsis: This is a big change to the HomeReady product line, impacting both the income […]

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Freddie Mac – FAQ’s: Single Family Website Redesign – May 2019

Written by: Lloyd Rutherford, Staff Writer Freddie Mac is taking the time and effort to make searching for a guideline easier than before. If you work with Freddie Mac, read through this article to find out how they are reshaping their guideline portal. Rule Synopsis: Freddie Mac releases an FAQ for questions relating to their […]

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NEW Extenuating Circumstances – All Agency Comparison Chart

Written by: Tracey Rumsey, Staff Writer Life happens, Sometimes Life Throws a Curve Ball & Disrupts a Client’s Credit History! Read this article and check out our new chart to be the hero to more clients. Interpretive Comments: Borrowers who have had more recent major derogatory credit issues that prevent them from receiving an automated […]

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Fannie Mae Issues Updated Fact Sheet(s) for their PERS Process – Dated May 2019

Written by: Lloyd Rutherford, Staff Writer Condominium approvals are not for the faint of heart. In this update, Fannie Mae give you some tips to make the complex less complex. Rule Synopsis: Fannie Mae has updated their PERS Eligibility Overview and “Getting Started” Guide. The “Getting Started” Guide outlines the process of collection of documents […]

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Fannie Mae and Freddie Mac – Agencies Announce LIBOR Index Limitations – Fannie Mae LL2019-05 and Freddie Mac Bulletin 2019-10 – both dated May 17, 2019

Written by: Lloyd Rutherford, Staff Writer With interest rates at historic lows, ARMs are not as popular as they used to be. Yet, this is big news from both Fannie Mae and Freddie Mac. Rule Synopsis: The GSE’s (Fannie Mae and Freddie Mac), at the direction of their regulator, the Federal Housing Finance Agency (FHFA), […]

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