Tag: Refinance

Freddie Mac Selling Guide Updates – Bulletin 2020-43 – Dated November 4, 2020

Written by: Lloyd Rutherford, Staff Writer Article Intro Paragraph LPA Resubmission requirements have changed, so read through this update to find out important details. Also in this update are guidance to Condominiums, Coops, or Condo Hotels for those of you working in those markets. Rule Synopsis: Freddie Mac is updating their selling guide for a […]

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Waiting Period for a Cash/Out After a Rate/Term

Question: My client did a cash-out refinance to pay off debt. Rates have gone down further, so now they are considering a rate/term refinance.  Is there a required waiting period? MC Refinance Chart – All Agencies Answer: There is no established waiting period, other than you or your lender may have to pay a premium […]

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Fannie Mae – Selling Guide Announcement SEL–2020-06 – Dated October 7, 2020

Written by: Lloyd Rutherford, Staff Writer Fannie Mae updates are always an important read.  These are the updates where you will find clarification or rule changes that could directly impact your pipeline. This month’s update is a must read for all! Rule Synopsis: Fannie Mae is updating their selling guide for a variety of topics. […]

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Fannie Mae LL-2020-12 – New Adverse Market Refinance Fee – Freddie Mac Bulletin 2020-37 – Update to Market Condition Credit Fee in Price

Written by: Lloyd Rutherford, Staff Writer The new adverse market fee for refinances caused quite a stir in our industry recently. Read this article to find out which transactions are exempt from that fee! Rule Synopsis: Fannie Mae and Freddie Mac update their information on the addition of the new 50 basis point pricing hit. […]

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Fannie Mae – Updated FAQs for COVID – Updated September 17, 2020 and Freddie Mac – Updated FAQs for COVID – Updated September 24, 2020

Written by: Lloyd Rutherford, Staff Writer The COVID FAQs from Fannie Mae and Freddie Mac are huge.  It is important to keep up with how COVID related issue will affect your clients now and into the future. Rule Synopsis: The GSE’s (Fannie Mae and Freddie Mac) have updated their FAQ documents for COVID related (temporary) […]

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