Tag: Boarder Income

Fannie Mae – Multiple FAQs – High LTV & HomeReady®

Written by: Lloyd Rutherford, Staff Writer HomeReady may have changed their AMI requirements, but did you know that there are other ways to structure the loan to assist your clients? Learn the secrets from our expert in this article. Rule Synopsis: Fannie Mae issued multiple FAQs and other supporting documentation for their High LTV lending […]

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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 […]

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Fannie Mae Selling Guide Announcement SEL-2019-03 – Dated April 3, 2019 [NEW Chart – Fannie Mae & Freddie Mac Limited Review Condominiums]

Written By: Lloyd Rutherford, Staff Writer Interesting update from Fannie Mae, and a “Did You Know” to share with your referral sources or staff. Rule Synopsis: Fannie Mae is updating their selling guide for a variety of topics. This article will focus on the topics that generally benefit originators. The updates announced in this Selling […]

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VA – Boarder Income – Is it true that VA will now allow boarder income?

Answer: While we haven’t seen the official Circular yet or the updated Handbook, VA did announce, at their lender conference in April, that boarder income will now be accepted. They indicated that all updates/changes that they announced at this conference could be implemented immediately, but my guess is that most lenders will want to see […]

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Fannie Mae HomeReady FAQ’s and HomeReady Product Matrix – Updated March 22, 2018 – New Fannie Mae Chart Added – HomeReady Matrix™

By: Lloyd Rutherford, Staff Writer Fannie Mae has added to their HomeReady™ FAQ document and issued a HomeReady™ Product Matrix.  If you work with the HomeReady™ program, be sure to read this update. Rule Synopsis: Fannie Mae updated their HomeReady™ FAQ document and their Product Matrix – the update really was to adapt the links […]

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