Investment Property

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 [...]

2019-07-09T10:49:18-05:00July 10th, 2019|

Freddie Mac – Multiple Selling Guide Updates – Bulletin 2019-4 – Dated February 6, 2019 – Effective Immediately

Written By: Lloyd Rutherford, Staff Writer This is one of those selling guide updates that contains a lot of small but very important updates.  Take the time to read through those changes that apply to your business. Rule Synopsis: Freddie Mac is updating their selling guide for a variety of topics. This article will focus on [...]

2019-02-11T09:24:54-05:00February 10th, 2019|

Fannie Mae – Investment Loan – Do we need to meet occupancy requirements, on a limited review, for an investment loan in an established condo project?

  Answer No, if you meet the requirements for a limited review for an investment property condo (eligibility requires that you have an LTV of less than or equal to 75%) and DU supports a limited review feedback message, then you would not have to fulfill the requirements outlined in the Full Review process, which [...]

2018-08-23T15:50:22-05:00August 22nd, 2018|

Freddie Mac- Multiple Selling Guide Updates – Bulletin 2018-10 – Dated June 27, 2018 [3 UPDATED Charts & 2 UPDATED MTPs – See Supporting Resources]

By: Lloyd Rutherford, Staff Writer Financing condos has just become much easier in this “all good news” release from Freddie Mac.  There are some MAJOR changes that will affect your present business and will open up a lot of new business potential.  Read this and the supporting resources to help expand your business. Rule Synopsis: Freddie [...]

2018-07-10T08:22:51-05:00July 9th, 2018|

Compliance – Second Home vs. Investment Property: Is a borrower an owner-occupant if they do not presently own a home, but want to buy a home in another state for retirement purposes next year?

Answer: If your borrower cannot occupy at time of closing, a lender will typically not allow it to be purchased as owner occupied.  Your borrower could buy it as a second home as there are typically no pricing hits for a second-home purchase. There is no ‘rule’ that says you have to own a primary [...]

2018-04-24T14:08:13-05:00March 23rd, 2018|