Tag: PUD

Fannie Mae Appraiser Update – Dated December 2020

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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Freddie Mac Selling Guide Updates – Bulletin 2020-38 – Dated October 7, 2020

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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Recreation lease for PUD/Townhomes

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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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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Freddie Mac Multiple Selling Guide Updates – Bulletin 2018-5 – Dated March 28, 2018 – Effective Immediately and June 28, 2018

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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