Issue: Rules – June 10, 2020

VA – Two Ways to Calculate the Guaranty Amount!

Written by: Tammy Butler, Master CMB, Publisher Depending on who you work for, there is confusion regarding what loan amount should be used to calculate the Guaranty.  Is it the “Base Loan” or the “Total Loan”?  In this article we discuss those differences and provide the resources you need. Rule Synopsis: VA guarantees the loan […]

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Fannie Mae Selling Guide Announcement SEL–2020-03 – Dated June 3, 2020

Written by: Lloyd Rutherford, Staff Writer This bulletin is FULL of important updates.  Make sure that you read through the various changes that may apply to your 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 and Freddie Mac Issue Temporary Requirements for Documenting Self-Employed Income during Pandemic – FNMA LL-2020-03 and FHLMC Bulletin 2020-19

Written by: Lloyd Rutherford, Staff Writer COVID19 continues to impact underwriting guidelines.  To close your loans, you must keep up with the fast pace of changes!  This update reviews the incredible changes to self-employed borrowers. Rule Synopsis: The primary topic on the Bulletin for Freddie Mac 2020-19 and the updated Lender Letter 2020-03 from Fannie […]

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FHA HECM-Reverse Mortgage Updates – COVID19 and SWAP Rate

Written by: Melinda Hipp, Staff Writer Big things are happening in Reverse Mortgage world.  It sounds like there are some massive nuggets of opportunity in this update! Rule Synopsis: The last 8-12 weeks have been a crazy time, both for the world, the USA and for the mortgage industry.  This includes the specialized Reverse Mortgage […]

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Freddie Mac Selling Guide Updates – Bulletin 2020-20 – Dated June 3, 2020

Written by: Lloyd Rutherford, Staff Writer Freddie Mac made a very convenient change for lenders seeking property insurance requirements, and helped those of you who work with condominiums.  Read through this update if you think these changes may impact your business. Interpretive Comments: Property Insurance Requirements Freddie Mac is adding the Property Insurance Requirements to […]

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