Tag: Fact Sheet

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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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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Fannie Mae – DACA & Non-US Citizen Policy Clarified by Fannie Mae – Fact Sheet Issued for Non-Citizen Borrower Eligibility – Dated March 2019-Released on March 22, 2019

Written By: Lloyd Rutherford, Staff Writer At long last, we have finally received clarification from one of the agencies regarding lending to DACA status clients!  In this update, Fannie outlines very clearly how to assist Non-US Citizen applicants. Rule Synopsis: Fannie Mae issues their first ever Fact Sheet to provide more clarity around a topic […]

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