Tag: Home Possible

Freddie Mac Selling Guide Updates – Bulletin 2021-12 – Dated April 7, 2021

Written by: Lloyd Rutherford, Staff Writer In this update, Freddie Mac releases important updates to Affordable Lending, Income and Assets and the 10-Day Pre-Closing Verification requirements. 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 updates announced in this […]

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Freddie Mac Selling Guide Updates – Bulletin 2021-4 – Dated February 3, 2021

Written by: Lloyd Rutherford, Staff Writer Mortgage Currentcy Chart – What is Considered a Large Deposits – All Agencies – Updated The selling guide updates contain a lot of little details that require your review to keep you up to date on rule changes. Rule Synopsis: Freddie Mac is updating their selling guide for a […]

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Freddie Mac Selling Guide Updates – Bulletin 2020-45 – Dated December 2, 2020

Written by: Lloyd Rutherford, Staff Writer This update includes many more updates than just the loan limits.  Big changes for Solar Panels, Power of Attorney requirements, Home Possible LTVs, Sweat Equity and Cash-On-Hand.  Read through this excellent overview from our expert regarding what you need to know! UPDATED MC Chart – Solar Panels – All […]

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Determining Income for HomeReady®-Alimony-Child Support

Question: If my client received Alimony but does not need that income to qualify, do I need to count it?  Counting it would exceed the HomeReady income limits. Answer: Income from alimony, child support or separate maintenance does not need to be disclosed on any mortgage loan for Fannie or Freddie if they (the borrower(s)) […]

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Freddie Mac Selling Guide Updates – Bulletin 2020-36 – Dated September 2, 2020 – Updated “Grossing Up Income Chart”

Written by: Lloyd Rutherford, Staff Writer Freddie Mac is getting back into the rhythm of guideline changes and clarifications.  This update includes some important changes that may have you considering using Fannie Mae for some types of income! Rule Synopsis: Freddie Mac is updating their selling guide for a variety of topics. This article will […]

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