Written by: Lloyd Rutherford, Staff Writer The appraisal can make or break your client’s loan. You spend all of that time originating and processing a loan only to have it blow up in the appraisal review. Keeping up with the Facts vs. the Myths helps you close more loans. Rule Synopsis: Fannie Mae publishes a […]
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Written by: Lloyd Rutherford, Staff Writer In this month’s update from Freddie Mac they are adding clarification from a previous bulletin that caused the industry a lot of confusion! This bulletin also includes an important guideline change that is considered a win for origination. Rule Synopsis: Freddie Mac is updating their selling guide for a […]
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Question: What are the guidelines for a PUD/Townhome with a recreation lease? I see condo guidance but not PUD guidance. Mortgage Currentcy – Condo Eligibility Chart Answer: Attached units [PUD’s/Townhomes] would just follow the same requirements as for Condo’s. The developer may not retain any ownership interest in any of the facilities related to the […]
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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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By: Lloyd Rutherford, Staff Writer Freddie Mac is increasing their LTV’s, TLTV’s and HTLTV’s for Condominiums, Second Homes and 2-Unit Primary Residences. Plus, many other Condo changes. Be sure to read through this article thoroughly to ensure you are up to date! Rule Synopsis: Freddie Mac is updating their selling guide for a variety of […]
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