Tag: Credit

USDA – Updates to Chapter 10 and Chapter 11

Written by: David Hail, Staff Writer USDA lenders, this is a massive update so heads up.  Our expert breaks down the “New”, “Clarifications” and “Reminders” announced by the agency. Rule Synopsis: The great news is that the revisions to Chapter 10 “Credit Analysis” and Chapter 11 “Ratio Analysis” USDA Rural Development announced were coming in […]

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USDA – Major Revisions to Chapter 10 – Credit Analysis

Written by: David Hail, Staff Writer The revisions to technical handbook HB-1-3555 Chapter 10, Credit Analysis, are significant and require your full attention if you are originating these types of loans. Rule Synopsis: On December 19, 2019 USDA Rural Development announced upcoming revisions to technical handbook HB-1-3555 Chapter 10, Credit Analysis. They provided an advance […]

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Freddie Mac Selling Guide Updates – Bulletin 2020-1 – Dated February 5, 2020

Written by: Lloyd Rutherford, Staff Writer Freddie Mac is back on track this year by issuing an update with a lot of reminders and credit policy changes.  Take a few minutes to read through this article for some important changes. Rule Synopsis: Freddie Mac is updating a variety of topics in their selling guide. This […]

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Freddie Mac- Multiple Selling Guide Updates – Bulletin 2019-11 – Dated June 5, 2019 – Effective Immediately

Written by: Lloyd Rutherford, Staff Writer This update includes some very important condo changes that could expand your business niche, so be sure to read through all of the details. Rule Synopsis: Freddie Mac 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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Fannie Mae-Desktop Underwriter Credit-related Error Codes Job Aid – Dated February 26, 2019

Written By: Lloyd Rutherford, Staff Writer If you ever get error codes when working with DU, you are going to love this article and the accompanying Job Aid. Rule Synopsis: Fannie Mae published an updated DU Credit-Related Error Code Job Aid.  This is a great resource for identifying: the credit error code the error description, […]

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