Tag: Pandemic

CFPB and State Regulators Provide Additional Guidance to Assist Borrowers Impacted by the COVID-19 Pandemic – Dated June 4, 2020

Written by: Lloyd Rutherford, Staff Writer There is a lot of conversation and speculation regarding the rights and ultimate effect on home financing for those consumers affected by the Pandemic.  In this article we discuss the recently released guidance on this topic from the Federal and State Regulators. Rule Synopsis: The Consumer Financial Protection Bureau […]

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Fannie Mae and Freddie Mac Issue Temporary Requirements for Documenting Self-Employed Income during Pandemic – FNMA LL-2020-03 and FHLMC Bulletin 2020-19

Written by: Lloyd Rutherford, Staff Writer COVID19 continues to impact underwriting guidelines.  To close your loans, you must keep up with the fast pace of changes!  This update reviews the incredible changes to self-employed borrowers. Rule Synopsis: The primary topic on the Bulletin for Freddie Mac 2020-19 and the updated Lender Letter 2020-03 from Fannie […]

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Fannie and Freddie Publish Refinance & Home Purchase Eligibility Requirements for Borrowers in Forbearance – FNMA LL-2020-03 – Updated May 19, 2020 and FHLMC Bulletin 2020-75 – Dated May 93, 2020 and FHFA Media Announcement – Dated May 19, 2020

Written by Lloyd Rutherford, Staff Writer Rule Synopsis: The GSE’s (Fannie Mae and Freddie Mac), at the direction of their regulator (the FHFA), have released information on temporary eligibility requirements for borrowers who are in forbearance, or recently ended their forbearance and are now looking to refinance an existing home or buy a new home. […]

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