Tag: Home Possible

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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Freddie Mac Selling Guide Updates – Bulletin 2019-15 – Dated June 20, 2019 – Effective July 28, 2019

Written By: Lloyd Rutherford, Staff Writer Heads up if you work with the HomePossible® Program. This update will dramatically affect loans in your pipeline or some of your buyers who may be currently shopping for homes. Rule Synopsis: Freddie Mac announces that they are dropping their Area Median Income limits to a maximum of 80% […]

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Fannie Mae & Freddie Mac – HomePossible® & HomeReady®- Income Limits: If I have a married couple but only one spouse wants to be on the loan, is this acceptable for income limit purposes? 97% Financing Options Comparison – Fannie vs. Freddie Chart

Answer: That should be acceptable if both work; however, the other party cannot not be on the loan.  If you want to have both on the loan, you would have to use both of their incomes.  The only time you can consider not including income (from anyone on the loan that has employment) is if […]

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FHLMC News Center Bulletin – Debunking Manufactured Housing Myths – The Facts – Dated March 7, 2019

Written By: Lloyd Rutherford, Staff Writer There are a lot of opportunities in market niches, and manufactured housing is one of them.  Now that Fannie Mae and Freddie Mac have joined in this market and worked with manufactured builders, the homes they are financing look great.  Take the time to educate yourself and your staff on […]

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Freddie Mac Bulletin – 2019-7 – Multiple Selling Guide Updates – Dated April 3, 2019 – Effective July 3, 2019 and February 1, 2020. [NEW Chart – Fannie Mae vs. Freddie Mac Underwriting Differences]

Written By: Lloyd Rutherford, Staff Writer This update contains a lot of exciting news that is sure to expand your business or make it easier. 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 Selling […]

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