Tag: IRS

Freddie Mac Selling Guide Updates – Bulletin 2020-1 – Dated February 5, 2020

Written by: Lloyd Rutherford, Staff Writer Freddie Mac is back on track this year by issuing an update with a lot of reminders and credit policy changes.  Take a few minutes to read through this article for some important changes. Rule Synopsis: Freddie Mac is updating a variety of topics in their selling guide. This […]

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Fannie Mae and Freddie Mac Issue Reminder Notice Regarding the Impact to the Taxpayer First Act and Use of Tax Return Info – Dated November 6, 2019

Written by: Lloyd Rutherford, Staff Writer New Disclosure Alert! Pay attention to this article to ensure that you avoid any buybacks from Fannie Mae, Freddie Mac or your investors! Rule Synopsis: Fannie and Freddie provide a reminder notice of the impact and obligation to lenders trying to obtain information about tax-related documentation for borrowers. Interpretive […]

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Fannie Mae – Desktop Underwriter/Desktop Originator Release Notes DU Version 10.3 July 2019 Update – Dated May 21, 2019 – Effective July 20, 2019

Written by: Lloyd Rutherford, Staff Writer DU users this is an important update that will clarify some recent changes that you need to know and one that none of us expected to see! Rule Synopsis: Fannie Mae announces an update to their newest DU Version: DU Version 10.3. The changes announced in this release will […]

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Freddie Mac – Installment Agreements: How does Freddie Mac handle IRS installment agreements? [NEW Mortgage Talking Point-How Lenders View IRS Installment Agreements]

Answer: Freddie Mac does not address this directly, so you have to use their guidance on “other installment debt” as shown in their selling guide. See highlighted text below. You are basically taking similar steps as Fannie Mae by getting the IRS agreement, confirming the payment ($) amount, and confirming that the payments are being made, as well […]

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