Tag: CARES act

FHA – Eligibility After Forbearance – New Intel

Written by: Tammy Butler, Master CMB, Publisher New Information on FHA Eligibility for Forbearance Clients: IMPORTANT READ – How soon out of Forbearance can an FHA borrower buy a home or do a rate/term refinance? FHA Released Mortgage Letter 2020-30 to explain how to handle a client in forbearance because of COVID. Some items were […]

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VA Circular 26-20-25 Change 1, Impact of CARES Act Forbearance on VA Purchase and Refinance Transactions, September 15, 2020, Effective immediately.

Written by: Tracey Rumsey, Staff Writer How to guide your clients who exercised their Forbearance rights under the CARES Act will be an ongoing topic for mortgage professionals.  In this update VA clarifies the seasoning requirements. Rule Synopsis: Effective date September 15, 2020 Summary Circular 26-20-25 is changed as follows: Page 3, Paragraph 6 d. […]

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Impact of CARES Act Forbearance on VA Purchase and Refinance Transactions, Dated & Effective June 30, 2020 – NEW MTP™ – A Veteran’s Guide to Purchasing and Refinancing During the COVID-19 Pandemic.

Written by: Tracey Rumsey, Staff Writer This is a long-awaited update for those Veterans affected by the Pandemic!  All VA lenders need to read this update to understand the impact on future refinance and purchase transactions. Rule Synopsis: Effective for all loans closed on or after June 30, 2020: Purchase and Cash Out Transactions VA […]

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