Fannie Mae – Desktop Underwriter/Desktop Originator Release Notes DU Version 10.3 July 2019 Update – Dated May 21, 2019 – Effective July 20, 2019

Written by: Lloyd Rutherford, Staff Writer DU users this is an important update that will clarify some recent changes that you need to know and one that none of us expected to see! Rule Synopsis: Fannie Mae announces an update to their newest DU Version: DU Version 10.3. The changes announced in this release will [...]

2019-06-07T10:43:05-05:00June 10th, 2019|

Freddie Mac Bulletin – 2019-7 – Multiple Selling Guide Updates – Dated April 3, 2019 – Effective July 3, 2019 and February 1, 2020. [NEW Chart – Fannie Mae vs. Freddie Mac Underwriting Differences]

Written By: Lloyd Rutherford, Staff Writer This update contains a lot of exciting news that is sure to expand your business or make it easier. Rule Synopsis: Freddie Mac 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 [...]

2019-04-09T11:51:04-05:00April 10th, 2019|

Fannie Mae – Job Aid: Flexibilities for Creditworthy Borrowers – Dated October 2018

Written By: Lloyd Rutherford, Staff Writer Many mortgage professionals seem to struggle with inputting information into DU and DO.  Sometimes it’s the little tips that make your life easier, and this article provides those to you. Rule Synopsis: Fannie Mae has issued a job aid to assist lenders with input tips/requirements to give you confidence [...]

2018-11-09T08:36:46-05:00November 9th, 2018|

USDA – Revisions to USDA Rural Development HB-1-3555 Chapter 9 “Income Analysis”-Advance Notice-Effective Date Pending [NEW MTP-The Top 10 USDA Changes to Income-Related Requirements]

[Update:  Released 10-17-2018 – Official Effective Date of 12-15-2018 for Guideline Changes. See Agency Announcement in Supporting Resources.] Written By: David Hail, Staff Writer Big changes are on the horizon for USDA with regard to income analysis.  If you work with USDA loans, you must read this update and the attached releases.  Be sure to spread [...]

2018-10-17T14:49:18-05:00October 10th, 2018|

Fannie-Freddie-FHA-VA-Payroll Debit Cards: Will Fannie Mae accept income that is deposited to a debit card by an employer?

Answer: Our expert sent this email to Fannie Mae based on your question: Scenario:  We have had several questions from borrowers who have employers that utilize debit cards to deposit the employee payroll.  We have a borrower now that uses an Emerald Card with H&R Block for her direct deposit.  She gets her tax refunds [...]

2018-05-29T17:03:28-05:00April 24th, 2018|