Tag: Area Median Income

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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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 – 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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Fannie Mae Resource Documents for Selling Notice – HomeReady® Income Limit Increase – added June 2018 – Dated June 2018

By: Lloyd Rutherford, Staff Writer Fannie Mae changed their HomeReady® loan limits last month, and in this update they are issuing supporting references and marketing materials for the program.  This is great information to help you get more business! Rule Synopsis: Fannie Mae updated their income limits for HomeReady® and they have now released two […]

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Fannie Mae Selling Notice for HomeReady® Income Limit Increase for 2018 – Dated May 22, 2018

By: Lloyd Rutherford, Staff Writer Fannie Mae is increasing income limits for the HomeReady program.  If you work with HomeReady buyers or would like to learn more about this program, this is an important update with many resources attached. Rule Synopsis: Area Median Income Limits (AMI) will go into effect for new DU casefiles for […]

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