Tag: Investment Property

HPML and Investment Property

Question: I am running into a big issue with HPML on investment property loans where the best terms we have are a rate with substantial points. Our compliance person is saying we cannot do this loan because it becomes an HPML file, and our company would have to take a huge hit to make it […]

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Primary Housing Expense Requirement When Buying Investment Property

Question: My client owns 8 investment properties and is purchasing another investment property.  She is not obligated on the note for her primary residence but is on the title.  Will Fannie Mae or Freddie Mac allow her to use the rental income on the new investment property loan if she has no “primary housing expense”? […]

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Medical Collections & Investment Property Financing

Question: How do Fannie Mae and Freddie Mac look at medical collections for an investment property? MC Chart – Collections & Judgments Answer: For Fannie: DU Underwritten Loans For one-unit, principal residence properties, borrowers are not required to pay off outstanding collections or non-mortgage charge-offs—regardless of the amount. For two- to four-unit owner-occupied and second-home […]

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Freddie Mac – Reining in Reverse Occupancy

Written by: Lloyd Rutherford, Staff Writer Opening your eyes to what causes lender buybacks or litigation is important if you are going to be in the business of lending money.  The agencies periodically issue fraud trends that they see in our industry, and it is important for all lenders to keep up on what is […]

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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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