Tag: Home Possible

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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Fannie Mae HomeReady® Income Limit Changes and Freddie Mac HomePossible® Income Limit Changes for 2020 – Dated June 3, 2020 and June 29, 2020

Written by: Lloyd Rutherford, Staff Writer HomeReady® and HomePossible® are great programs for those clients who meet the required income limits.  Read through this article to explore how to assess the new income limits that may help you attract more clients. Rule Synopsis: Fannie Mae: Updated Area Median Income Limits (AMI) will go into effect […]

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Freddie Mac – LPA Feedback Message Updates – Effective March 29, 2020

Written by: Lloyd Rutherford, Staff Writer LPA [Loan Product Advisor] continues to become more sophisticated to assist lenders in avoiding mistakes that result in denied loans or buybacks.  Read through this article to learn the new feedback messages being adopted by Freddie Mac in March. Rule Synopsis: Freddie Issues notification that they are updating Feedback […]

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Freddie Mac – LPA Feedback Message Updates – Effective December 3, 2019 and January 25, 2020 and February 4, 2020 – Dated November 21, 2019

Written by: Lloyd Rutherford, Staff Writer One of the best things you can do for your business is to understand how your AUS systems work. This update on Loan Product Advisor shares some important changes you need to know to get the results you want! Rule Synopsis: Freddie Issues notification that they are updating Feedback […]

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Freddie Mac Selling Guide Updates – Bulletin 2019-16 – Dated July 10, 2019

Written by: Lloyd Rutherford, Staff Writer Freddie Mac issued a bulletin with a lot of details a lender needs to review. Read through this article as our expert points out what you need to know. Rule Synopsis: Freddie Mac issues Bulletin 2019-16 with a number of topics, including an update on the AMI change to […]

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