Rules - May 10, 2018

Freddie Mac FAQ’s for Duty to Serve – Topic is: Single-Close Financing for Manufactured Housing – Dated April 2018 – Effective Immediately

By: Lloyd Rutherford, Staff Writer If you offer manufactured housing financing, or would like to branch into that area, Freddie has issued an FAQ on their new Single-Close option for Manufactured Housing.  Be sure to read through this to get familiar with this new option. Rule Synopsis: Freddie Mac created an FAQ for questions surrounding [...]

2018-05-29T14:47:47-05:00May 9th, 2018|

Fannie Mae Appraiser Update – Dated April 2018

By: Lloyd Rutherford, Staff Writer There is nothing worse than getting a borrower through the buying process, contract and home inspection only to find out that the appraisal is causing your loan to blow up.  Find out what you need to know about appraisals and how to prevent these issues by educating yourself with Fannie’s [...]

2018-05-29T14:48:39-05:00May 9th, 2018|

Fannie Mae Fact Sheet – Underwriting Borrowers without Traditional Credit – “Automating a Manual Process” – Dated April 2018

By: Lloyd Rutherford, Staff Writer Non-Traditional credit does not mean “no mortgage”.  In fact, lenders who do not offer underwriting options for borrowers in this category significantly increase their risk for fair lending violations.  Read this update to learn what Fannie has to say about borrowers without traditional credit. Rule Synopsis: Fannie Mae created a [...]

2018-05-29T16:32:18-05:00May 9th, 2018|

Fannie Mae Property Inspection Waiver FAQ – Updated May 1, 2018

By: Lloyd Rutherford, Staff Writer Property Inspection Waivers can be a great time and money saver for your borrowers.  In this update FAQ for PIWs Fannie Mae addresses some important questions that you need to know. Rule Synopsis: Fannie Mae updates their FAQ document for Property Inspection Waiver on May 1, 2018. The FAQ document [...]

2018-05-29T16:36:03-05:00May 9th, 2018|