Tag: Fact Sheet

Fannie Mae – DU Validation Service Release Notes – Effective October 17, 2020 & Best Practices for Income and Employment Verifications Job Aid

Written by: Lloyd Rutherford, Staff Writer With this guideline update Fannie Mae is making a big announcement that will affect your processing flow and rep/warranty status on your files. This is a must read for anyone in retail or wholesale origination. Rule Synopsis: Fannie Mae discontinues employment and income validation using manual reports. Fannie Mae […]

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Fannie Mae – New Fact Sheet for Titling Manufactured Homes as Real Property – Dated November 2019

Written by: Lloyd Rutherford, Staff Writer Financing manufactured homes has gotten a lot easier now that Fannie Mae and Freddie Mac have stepped up with education and guidance. This article contains an excellent guidebook to help you navigate this business vertical to increase your production next year! Rule Synopsis: Fannie Mae created a document to […]

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Fannie Mae – DU Job Aid – Debt-to-Income (DTI) Ratio – Dated June 3, 2019 and DU Job Aid Total Expense Ratio < Housing Expense Ratio Error Message – Dated June 3, 2019

Written by: Lloyd Rutherford, Staff Writer If you master DU you are one step ahead of the competition and you dramatically reduce processing time! These Job Aids should help you get one step closer to expert status. Rule Synopsis: Fannie Mae published two new job aids: DU Job Aid Debt-to-Income (DTI) Ratio, and DU Job […]

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Fannie Mae Issues Updated Fact Sheet(s) for their PERS Process – Dated May 2019

Written by: Lloyd Rutherford, Staff Writer Condominium approvals are not for the faint of heart. In this update, Fannie Mae give you some tips to make the complex less complex. Rule Synopsis: Fannie Mae has updated their PERS Eligibility Overview and “Getting Started” Guide. The “Getting Started” Guide outlines the process of collection of documents […]

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Fannie Mae Issues Fact Sheet for the Impact to Tax Returns and Income Reporting due to the Tax Cuts and Jobs Act – Dated April 16, 2019 [NEW MTP™- The Top 6 Tax Return Changes Affecting Income Documentation] AND [Updated Chart – Retirement Income Chart]

Written By:  Lloyd Rutherford, Staff Writer Those who master the art of deciphering the tax return for qualification purposes are those who master their market.  The tax return and requirements have changed drastically.  This article will keep you up to date on what you need to know. Rule Synopsis: Fannie Mae publishes a useful Fact […]

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