Rules – November 10, 2018

Fannie Mae- FAQ’s: DU Validation Service FAQs – Updated October 24, 2018

Written By: Lloyd Rutherford, Staff Writer As more and more FinTech companies evolve, Fannie Mae is reminding all lenders about their privacy duties as it relates to borrower data.  Read these updated FAQ questions for DU Validation Service. Rule Synopsis: The DU Validation FAQ document has been updated: DU Validation Service FAQs Seventeen pages with [...]

2018-11-09T08:36:13-05:00November 9th, 2018|

Fannie Mae – Desktop Underwriter/Desktop Originator Release Notes DU Version 10.3 December Update – Updated October 31, 2018 – Effective December 8, 2018.

Written By: Lloyd Rutherford, Staff Writer There is a big change coming from Fannie Mae, especially as it relates to higher-risk borrowers.  Read through this update to find out what you need to know. Rule Synopsis: Fannie Mae announces the newest DU Version to be released: DU Version 10.3. The changes in this release will [...]

2018-11-09T08:44:26-05:00November 9th, 2018|

Freddie Mac- Multiple Selling Guide Updates – Bulletin 2018-18 – Dated October 17, 2018 [NEW MTP™ Freddie Mac HomePossible® Program|UPDATED Condo Eligibility Chart|Updated 97% Fannie vs. Freddie Chart|UPDATED MTP™-Freddie Condos That Don’t Qualify]

Written By: Lloyd Rutherford, Staff Writer Freddie Mac continues to make some big changes to their guidelines.  Sometimes they giveth and sometimes they taketh away.  Read this update to see what is new and what has changed. Rule Synopsis: Freddie Mac is updating their selling guide for a variety of topics. This article will focus [...]

2018-11-09T08:47:41-05:00November 9th, 2018|

Fannie Mae – Job Aid: Flexibilities for Creditworthy Borrowers – Dated October 2018

Written By: Lloyd Rutherford, Staff Writer Many mortgage professionals seem to struggle with inputting information into DU and DO.  Sometimes it’s the little tips that make your life easier, and this article provides those to you. Rule Synopsis: Fannie Mae has issued a job aid to assist lenders with input tips/requirements to give you confidence [...]

2018-11-09T08:36:46-05:00November 9th, 2018|

NMLS – Annual Renewal Information

Written By: Tammy Butler, Master CMB It’s that time of year again to renew your license.  Check out this article for best practices and tips to get through the process faster. Rule Synopsis: NMLS requires that each individual mortgage loan originator (MLO) must renew their license in NMLS between November 1st and December 31st of [...]

2018-11-09T08:37:19-05:00November 9th, 2018|