Tag: Rental Income

Freddie Mac – Reining in Reverse Occupancy

Written by: Lloyd Rutherford, Staff Writer Opening your eyes to what causes lender buybacks or litigation is important if you are going to be in the business of lending money.  The agencies periodically issue fraud trends that they see in our industry, and it is important for all lenders to keep up on what is […]

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Freddie Mac – LPA Feedback Message Updates – Effective December 3, 2019 and January 25, 2020 and February 4, 2020 – Dated November 21, 2019

Written by: Lloyd Rutherford, Staff Writer One of the best things you can do for your business is to understand how your AUS systems work. This update on Loan Product Advisor shares some important changes you need to know to get the results you want! Rule Synopsis: Freddie Issues notification that they are updating Feedback […]

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Freddie Mac Selling Guide Update – Bulletin 2019-25 – Dated December 4, 2019 – Updated MTP™ – GreenChoice® Home Loans – Energy Efficient & Earth Friendly

Written by: Lloyd Rutherford, Staff Writer There are some game-changer updates in this article that will give you the edge over your competition if you read through these changes! Rule Synopsis: Freddie Mac is updating their selling guide for a variety of topics. This article will focus on the topics that benefit originators. The updates […]

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VA- Lease Requirements on a Departing Residence to Offset House Payment

Question: My client wants to buy a new home but has not sold their present home. Will VA allow a one-year lease on their departing residence to offset the payment on their present home in order to qualify for the new home? Rental Income – Mortgage Income Analyzer™ Answer: VA will allow for the rental […]

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Fannie Mae SEL–2019-08 – Employment Contracts, Rental Income, AML – Dated October 2, 2019

Written by: Lloyd Rutherford, Staff Writer This is a small bulletin, but big update, so be sure to read through the details carefully. 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 […]

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