FHA – Construction to Permanent and Building on Own Land Programs, Mortgagee Letter 2019-08, May 16, 2019 – Effective by June 17, 2019 or Immediately – NEW MTP™ – Interested In Building Your Own Home on Your Own Lot?

Written by: Tracey Rumsey, Staff Writer FHA is providing a great update to their new construction rules. Take a look at this article and the social media posts to boost your business in this niche. Rule Synopsis: The guidance in this Mortgagee Letter may be implemented immediately, but must be implemented for loans with case [...]

2019-06-07T10:44:16-05:00June 10th, 2019|

Fannie Mae Selling Guide Announcement SEL-2018-09 – Dated December 4, 2018

Written By: Lloyd Rutherford, Staff Writer Fannie Mae has just released some interesting updates that are sure to keep you one step ahead of your competition.  Read through this article to find out what they are and how to get this information out to your referral sources before your competition. Rule Synopsis: Fannie Mae is updating [...]

2018-12-10T08:35:16-05:00December 10th, 2018|

Fannie Mae Selling Guide Announcement SEL-2018-08 – Dated September 2, 2018-Effective Immediately [NEW Chart – Using Employment-Related Assets for Income]

Written By: Lloyd Rutherford, Staff Writer Fannie Mae continues to make the originator’s life easier by helping more borrowers that “make sense” qualify for home loans.  Read through this update to see the new changes and tips on getting the word out to your clients. Rule Synopsis: Fannie Mae is updating their selling guide for [...]

2018-10-10T09:56:45-05:00October 10th, 2018|

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 [...]

2018-05-29T14:47:47-05:00May 9th, 2018|

VA-Construction/Permanent Home Loans, VA Circular 26-18-7, Dated-Apr 6, 2018 – Effective Immediately

By: Tracey Rumsey, Staff Writer VA has greatly increased their guidelines on new construction transactions.  This likely has something to do with the boom in construction and meeting the needs of the Veteran borrower.  Read through this update to stay informed about the changes to construction financing and construction perm financing. Rule Synopsis: This circular [...]

2018-05-29T16:48:43-05:00May 9th, 2018|