Written By: Lloyd Rutherford, Staff Writer This is a big update with a lot of important changes from Freddie Mac. Take the time to digest the upcoming rule changes by reading through this article and the accompanying bulletin. Rule Synopsis: Freddie Mac is updating their selling guide for a variety of topics. This article will […]
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Answer: Disputed accounts on an applicant’s credit report are not considered in the credit score. Manually underwritten loans. For manually underwritten loans, all disputed accounts with outstanding balances/payments must have a letter of explanation and documentation supporting the basis of the dispute. Those debts that have been excluded from the debt ratios must have evidence […]
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Written By: Lloyd Rutherford, Staff Writer This is one of those selling guide updates that contains a lot of small but very important updates. Take the time to read through those changes that apply to your business. Rule Synopsis: Freddie Mac is updating their selling guide for a variety of topics. This article will focus on […]
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Answer: With all of the credit breaches and identify theft going on, consumers have been on high-alert regarding their credit. Locking, freezing and fraud alerts have been a huge money maker for credit bureaus as consumers scrambled to find ways to protect their credit. Depending on the bureau definition of “lock” vs. “freeze” they may […]
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By: Lloyd Rutherford-Staff Writer Error codes on any AUS system can be very frustrating. Having a great reference document handy to cure the issue immediately saves a lot of time and aggravation. In this article, you’ll find a fantastic Job Aid from Fannie Mae for their DU system. Rule Synopsis: Fannie Mae published a DU […]
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