Rules - May 10, 2019

Fannie Mae – FAQ’s: DU Validation Service FAQs – Updated April 16, 2019; DU Validation Service Messages – Updated April 9, 2019 and Introducing the DU Validation Resource Center

Written By: Lloyd Rutherford, Staff Writer Technology at the agencies is advancing quickly, and if you’re going to compete you must keep up with it as well.  This article provides new resources from Fannie Mae to take your services to the next level. Rule Synopsis: Fannie Mae created a new resource page/center for all things [...]

2019-05-10T07:17:48-05:00May 10th, 2019|

VA – Pamphlet 26-7 – Revision of Lenders Handbook Chapters 2, 5, and 12 – Effective June 26, 2019 and June 30, 2019

Written By: Tracey Rumsey, Staff Writer VA has gone into full throttle revision mode.  In last month’s issue we highlighted changes, updated many charts and MTPs, and created some reference pieces to accompany the new changes.  If you work with VA loans, this article is a must read. Rule Synopsis: The VA continues to update [...]

2019-05-06T17:26:48-05:00May 10th, 2019|

Freddie Mac- Multiple Selling Guide Updates – Bulletin 2019-9 – Dated May 1, 2019 [NEW Worksheet – Freddie Mac Verification of Funds for Income After Note Date]

Written By: Lloyd Rutherford, Staff Writer This month’s Freddie Mac Bulletin contains some little changes that could have a big impact on your business, so read through this article to stay up to date. Rule Synopsis: Freddie Mac is updating their selling guide for a variety of topics. This article will focus on the topics [...]

2019-05-10T07:08:15-05:00May 10th, 2019|

Fannie Mae Issues Fact Sheet for the Impact to Tax Returns and Income Reporting due to the Tax Cuts and Jobs Act – Dated April 16, 2019 [NEW MTP™- The Top 6 Tax Return Changes Affecting Income Documentation] AND [Updated Chart – Retirement Income Chart]

Written By:  Lloyd Rutherford, Staff Writer Those who master the art of deciphering the tax return for qualification purposes are those who master their market.  The tax return and requirements have changed drastically.  This article will keep you up to date on what you need to know. Rule Synopsis: Fannie Mae publishes a useful Fact [...]

2019-05-08T13:00:42-05:00May 10th, 2019|

Fannie Mae Selling Guide Announcement SEL-2019-04 – Dated May 1, 2019- Effective Immediately

Written By: Lloyd Rutherford, Staff Writer This month’s seller guide announcement contains some need-to-know items for production staff.  Be sure to check out the changes on second homes. Rule Synopsis: Fannie Mae is updating their selling guide for a variety of topics. This article will focus on the topics that generally benefit originators. The updates [...]

2019-05-06T18:36:54-05:00May 10th, 2019|