Issue: Rules – May 10, 2020

Fannie and Freddie Publish Refinance & Home Purchase Eligibility Requirements for Borrowers in Forbearance – FNMA LL-2020-03 – Updated May 19, 2020 and FHLMC Bulletin 2020-75 – Dated May 93, 2020 and FHFA Media Announcement – Dated May 19, 2020

Written by Lloyd Rutherford, Staff Writer Rule Synopsis: The GSE’s (Fannie Mae and Freddie Mac), at the direction of their regulator (the FHFA), have released information on temporary eligibility requirements for borrowers who are in forbearance, or recently ended their forbearance and are now looking to refinance an existing home or buy a new home. […]

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Payment Deferral Options available to Servicers – FNMA LL-2020-07 – Dated May 13, 2020 and FHLMC Bulletin 2020-15 – Dated May 13, 2020

Publisher’s Note: There are a lot of rumors and speculation circulating as to how borrowers will be affected by forbearance requests due to Covid-19.  The reality is that until the agencies issue written guidance, none of us know the true answers as the pandemic is a first for our industry.  As each update becomes available, […]

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Welcome to The Mortgage Hive!

There’s Something New, and We’re Pretty Excited About it! We are Starting a Mortgage Hive for New and Newer Originators – Quality Education & Training from Day One on the Job – Free to All Users & Sponsored by Mortgage Currentcy WHY? About Two and Half years ago, I purchased Mortgage Currentcy. As a former […]

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What Was Added & What Was Changed on Mortgage Currentcy This Month!

In each Rules Issue, we post, “What was Added and What Was Changed!”  This helps our subscribers stay up to date on all of the additions to the site as well as changes to our charts, checklist, and agency bulletins that are changed each month, due to guideline updates. The COVID-19 Updates keep coming, but […]

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FAQs for COVID-19 Impact – Fannie Mae Lender Letter 2020-3, 2020-4- Freddie Mac Bulletin 2020-14 and FAQs.

Written by: Lloyd Rutherford, Staff Writer Staying up to date with all of the temporary guidance for COVID-19 is a challenge, to say the least.  Our experts are scouring through all of these updates and breaking them down to help guide you through these changes. Rule Synopsis: The GSE’s (Fannie Mae and Freddie Mac), at […]

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