Question: Will VA still permit the practice of sending a loan to VA for prior approval when the loan has been denied by the lender, but the Veteran and originator believe the loan should be approved? Answer: Per this excerpt from the VA Lenders Handbook below, VA does not allow submissions for approval as a […]
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Written by: Lloyd Rutherford, Staff Writer Rule Synopsis: Fannie Mae published UPDATED directions and guidance for appraisals (LL-2020-4) due to the impact on industries due to COVID-19 and these updates caused the FAQ document to be updated as well. Fannie Mae is using the original Lender Letters and their original FAQ document to update and […]
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Written by: Lloyd Rutherford, Staff Writer Freddie Mac is back on track this year by issuing an update with a lot of reminders and credit policy changes. Take a few minutes to read through this article for some important changes. Rule Synopsis: Freddie Mac is updating a variety of topics in their selling guide. This […]
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Written By: Lloyd Rutherford, Staff Writer If you ever get error codes when working with DU, you are going to love this article and the accompanying Job Aid. Rule Synopsis: Fannie Mae published an updated DU Credit-Related Error Code Job Aid. This is a great resource for identifying: the credit error code the error description, […]
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