Tag: Student Loans

Freddie Mac Postpones Income Changes Addressed in Bulletin 2019-20 – Postponed to July 2020

Written by: Lloyd Rutherford, Staff Writer It looks like Freddie Mac has received industry feedback that caused them to reconsider the timing of their new income guidelines.  Read through this article for the latest updates about how it may impact your business. Rule Synopsis: Freddie Mac is postponing the income changes they proposed in Bulletin […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

USDA – Major Revisions to Chapter 11 – Ratio Analysis

Written by: David Hail, Staff Writer The revisions to technical handbook HB-1-3555 Chapter 11, Ratio Analysis, are significant and require your full attention if you are originating these types of loans. Rule Synopsis: USDA Rural Development announced on January 29, 2020 that they will soon publish a revision to technical handbook HB-1-3555 Chapter 11, Ratio […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

Fannie Mae -Student Loans – Documenting Income-Based Repayment Amount

Question: My borrower is on an income-based repayment plan for his student loan, which is $0/month. I have a statement showing the $0 payment as well as the credit report showing a $0 payment. However, processing believes I need more documentation that he is truly on an IBC. What do you recommend that I get? […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

Freddie Mac – Bulletin 2019-20– Dated October 2, 2019

Written by: Lloyd Rutherford, Staff Writer Wow! Big update from Freddie Mac this month. There are lots of little details so make sure that you read through this update carefully! 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 […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

USDA – Student Loan Repayment Calculation for USDA Rural Development SFH Guaranteed Loans – Effective September 23, 2019

Written by: David Hail, Staff Writer Calculating the correct student loan payment for a mortgage applicant can be a moving target depending on the guidelines. With this update, USDA makes a huge change in the way lenders are instructed to calculate a student loan payment for a client. Rule Synopsis: On September 23, 2019 USDA […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

Scroll to Top