Rules – November 10, 2018

CFPB – HMDA 2019 Filing Instructions Guide-Dated October 2018

Written By: Tammy Butler, Master CMB Just when you thought you figured out the 2018 HMDA filing, the 2019 instructions hit your desk! Rule Synopsis: Starting with the 2018 HMDA Data, lenders are required to submit this new data set to the CFPB through their newly constructed portal.  Previous to that, lenders submitted the older [...]

2018-11-09T08:37:40-05:00November 9th, 2018|

Freddie Mac- Multiple Selling Guide Updates – Bulletin 2018-19 – Dated October 31, 2018 [NEW MTP™ Freddie Mac’s New Enhanced Relief Refinance Mortgage]

Written By: Lloyd Rutherford, Staff Writer The folks at Freddie Mac have been very busy as this is the second bulletin release this month.  Important updates to Rental Income Requirements, Social Security Income, and Enhanced Relief Refinance mortgages. Rule Synopsis: Freddie Mac is updating their selling guide for a variety of topics. This article will [...]

2018-11-09T08:37:49-05:00November 9th, 2018|

FHLMC New Center Reminder – HomePossible® Mortgages – Dated October 29, 2018 [NEW MTP™ Freddie Mac HomePossible® Program | NEW MTP®- How A Seller-Buydown Works]

Written By: Lloyd Rutherford, Staff Writer The Freddie Mac HomePossible® program may just be the product that brings in more business for you.  Read about the distinct benefits this program has to offer your clients. Rule Synopsis: This is a reminder of the new HomePossible® Mortgage that Freddie Mac is releasing. We will be covering [...]

2018-11-09T08:38:32-05:00November 9th, 2018|

CFPB – Limited English Proficiency (LEP) – Dated October 17, 2018 [NEW CHART – Glossary of English-Spanish Financial Terms]

Written By: Tammy Butler, Master CMB The CFPB is very focused on ensuring that those with limited English proficiency have the tools and education they need to make sound financial decisions.  As part of a joint effort with other regulators, they compiled a glossary of English to Spanish Financial Terms that are generally very hard [...]

2018-11-09T08:38:44-05:00November 9th, 2018|

FHA to Automate User Identification Assignment Process for Mortgagees and Roster Appraisers-FHA INFO 18-44, November 7, 2018, Effective November 9, 2018

Written By: Tracey Rumsey, Staff Writer If you use FHA Connection, this is a must read! Rule Synopsis: Beginning November 9, 2018: FHA Connection (FHAC) system will automate its Application Coordinator User Identification (ID) assignment process. FHA will discontinue mailing paper documentation to a mortgagee’s chief executive officer when a new user ID has been [...]

2018-11-09T08:38:55-05:00November 9th, 2018|