Written by: David Hail, Staff Writer USDA lenders, this is a massive update so heads up. Our expert breaks down the “New”, “Clarifications” and “Reminders” announced by the agency. Rule Synopsis: The great news is that the revisions to Chapter 10 “Credit Analysis” and Chapter 11 “Ratio Analysis” USDA Rural Development announced were coming in […]
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Answer: VA hides guidance on judgments in their Adverse Data section under ‘Disputed Accounts’. And I say ‘hide’ because while the highlighted guideline below would be applicable to ‘Disputed Accounts’, it would also be applicable to any judgment, disputed or not. Judgments threaten the first-lien position of the mortgage, so underwriters have to document appropriate […]
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