Tag: PERS

Fannie Mae Project Insurance Requirements FAQs – Project Standards Requirements FAQs

Written by: Lloyd Rutherford, Staff Writer You can learn a lot about the “gray areas” in underwriting guidelines if you read the FAQ updates as they come out.  This month is no exception and with the added bonus of FAQs for Condos, which can be an awesome niche market! Rule Synopsis: Fannie Mae updated their […]

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Fannie Mae Selling Guide Announcement SEL–2019-06 – Dated July 3, 2019

Written by: Lloyd Rutherford, Staff Writer Important updates from Fannie Mae’s seller bulletin, especially for those of you working with HomeReady® Buyers! Rule Synopsis: Fannie Mae is updating their selling guide for a variety of topics. This article will focus on the topics that benefit originators. The updates announced in this Selling Guide Announcement that […]

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Fannie Mae Issues Updated Fact Sheet(s) for their PERS Process – Dated May 2019

Written by: Lloyd Rutherford, Staff Writer Condominium approvals are not for the faint of heart. In this update, Fannie Mae give you some tips to make the complex less complex. Rule Synopsis: Fannie Mae has updated their PERS Eligibility Overview and “Getting Started” Guide. The “Getting Started” Guide outlines the process of collection of documents […]

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Fannie Mae – PERS Approval: Does a PUD single-wide manufactured home need to be PERS approved?

Answer: Yes, they do. See highlighted text below from Fannie selling guide. Reference: B4-2.3-01, Eligibility Requirements for Units in PUD Projects (06/05/2018) Introduction This topic contains information on PUD projects, including: PUD Project Definition Eligibility Requirements for Units in PUD Projects PUD Project Definition A PUD is a project or subdivision that consists of common […]

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Fannie Mae-Combined FAQ and Fact Sheet Article – Project Standards Requirements FAQ’s – Updated June 2018 – Ineligible Condo Characteristics – Updated June 2018 and At-a-Glance Condo and Insurance Requirements – Updated June 2018

By: Lloyd Rutherford, Staff Writer Fannie Mae is really pumping out the resources to help you do more condo loans and educate you on their dramatic changes. Anyone who has condos in their origination area needs to pay attention to this update and the update from Freddie Mac this month! Rule Synopsis: Due to multiple […]

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