Tag: Appraisal

Freddie Mac Selling Guide Updates – Bulletin 2020-31 – Dated August 5, 2020

Written by: Lloyd Rutherford, Staff Writer Freddie Mac is joining Fannie Mae in getting back to updating their underwriting guidelines that do not involve COVID.  Read through this update for some important changes to monthly obligations and appraisals. Rule Synopsis: Freddie Mac is updating their selling guide for a variety of topics. This article will […]

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FHA HECM Updates – NY Licensing – Appraisals – CFPB Exams

Written by: Melinda Hipp, Staff Writer Following are the FHA HECM updates for June.  If you work with reverse mortgages, this is a must-read update! Updates: The New York Department of Financial Services (DFS) published new NMLS licensing guidelines for New York State licensed mortgage bankers seeking to originate Home Equity Conversion Mortgages (HECMs) and proprietary reverse […]

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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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Consumer Financial Protection Bureau Announces Relief Options for Rescission Periods (Reg Z + TILA), TRID Rule Waiting Periods (TRID + Reg Z) and Delivery of Appraisals (ECOA Valuations Rule) – Dated April 29, 2020

Written by: Lloyd Rutherford, Staff Writer No matter how long you have been in the industry, the COVID-19 Pandemic is a first for all of us including the CFPB.  To offer consumers relief, the CFPB has added guidance to allow lenders some flexibility during this time.  All originators should read through these changes so that […]

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Fannie Mae Updated Lender Letter LL-2020-04 – COVID19 Impact to Appraisals – Condos – Renovation – FAQs

Written by:  Lloyd Rutherford, Staff Writer Rule Synopsis: Fannie Mae published UPDATED directions and guidance for appraisals (LL-2020-4) due to the impact on industries due to COVID-19 and these updates caused the FAQ document to be updated as well. Fannie Mae is using the original Lender Letters and their original FAQ document to update and […]

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