Tag: AMI

Freddie Mac Selling Guide Updates – Bulletin 2019-16 – Dated July 10, 2019

Written by: Lloyd Rutherford, Staff Writer Freddie Mac issued a bulletin with a lot of details a lender needs to review. Read through this article as our expert points out what you need to know. Rule Synopsis: Freddie Mac issues Bulletin 2019-16 with a number of topics, including an update on the AMI change to […]

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Fannie Mae Selling Guide Announcement SEL–2019-06 – Dated July 3, 2019

Written by: Lloyd Rutherford, Staff Writer Important updates from Fannie Mae’s seller bulletin, especially for those of you working with HomeReady® Buyers! Rule Synopsis: Fannie Mae is updating their selling guide for a variety of topics. This article will focus on the topics that benefit originators. The updates announced in this Selling Guide Announcement that […]

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Freddie Mac Selling Guide Updates – Bulletin 2019-15 – Dated June 20, 2019 – Effective July 28, 2019

Written By: Lloyd Rutherford, Staff Writer Heads up if you work with the HomePossible® Program. This update will dramatically affect loans in your pipeline or some of your buyers who may be currently shopping for homes. Rule Synopsis: Freddie Mac announces that they are dropping their Area Median Income limits to a maximum of 80% […]

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Fannie Mae Lender Letter LL-2019-06 – Dated June 5, 2019 – Effective July 20, 2019

Written by: Lloyd Rutherford, Staff Writer If you work with the HomeReady program, this is an update that may blow up your loans if you do not pay attention. Severe changes to this program will soon go into effect. Rule Synopsis: This is a big change to the HomeReady product line, impacting both the income […]

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Fannie Mae – Desktop Underwriter/Desktop Originator Release Notes DU Version 10.3 March 2019 Update – Dated January 28, 2019 – Effective March 23, 2019

Written By: Lloyd Rutherford, Staff Writer We are always very thankful for the release notes issued by Fannie Mae as they help us understand why the underwriting results may have changed and what we need to do in order to get the results we are seeking.  This update contains a lot of DU updates so […]

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