It’s all good news – Fannie is easing up on underwriting rules which will help more borrowers qualify for a mortgage. They go into effect on July 29 so if you have clients who did not qualify before, contact me to determine if they will qualify now.
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Rule Synopsis: [tweet-start]Mortgage rule update on 7-29-17 – Fannie will no longer require certain compensating factors for ratios between 45% and 50%.[tweet-end] [tweet-start]Fannie considers all timeshare loans as installment loans and not mortgage loans. [tweet-end] This article outlines the changes we can expect to see when DU 10.1 is released over the July 29, 2017 […]