Tag: Construction-to-Perm

Fannie Mae – DU/DO Release Notes DU Version 10.3 December 2019 Update – Dated October 9, 2019 – Effective December 7, 2019

Written by: Lloyd Rutherford, Staff Writer Reading through and understanding the DU/DO release notes helps you get the answers you want or need sooner from the system. There are a lot of updates in this release, so take a few minutes to read through this article. Rule Synopsis: Fannie Mae announces an update to DU […]

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New Construction Cash-Out Refinance Rules

Question: My client paid cash for a parcel of land that he is now building a home on using construction financing from his bank. He wants to pay off the construction loan and lower his rate to a longer-term mortgage loan. Is this considered a cash-out or a rate/term refinance? Answer: This is a conversion […]

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Fannie Mae Selling Guide Announcement SEL–2019-07 – Dated August 7, 2019

Written by: Lloyd Rutherford, Staff Writer The manufactured home industry is growing rapidly, and this update is just what you may need to consider adding to your book of business. Rule Synopsis: Fannie Mae is updating their selling guide for a variety of topics. This article will focus on the topics that benefit originators. The […]

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Freddie Mac FAQ’s for Duty to Serve – Topic is: Single-Close Financing for Manufactured Housing – Dated April 2018 – Effective Immediately

By: Lloyd Rutherford, Staff Writer If you offer manufactured housing financing, or would like to branch into that area, Freddie has issued an FAQ on their new Single-Close option for Manufactured Housing.  Be sure to read through this to get familiar with this new option. Rule Synopsis: Freddie Mac created an FAQ for questions surrounding […]

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