Feb. 25, 2010
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| Universal Condo Projects: Would you create a condo project comparison chart for existing and new construction projects, comparing Fannie, Freddie, FHA, VA and USDA? I'm so confused! [Download Condo Project Eligibility Quick Reference Chart] |
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| Universal HVCC: Why do banks & credit unions, who are regulated by OTS, have different HVCC practices? |
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| Fannie Mae/Freddie in Brief | |
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| Fannie/Freddie Elimination of Mortgage Insurance: Do you have anything in writing that says Lender can eliminate monthly mortgage insurance when LTV reaches 78%? |
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| Fannie/Freddie Seasoning Requirement: What is the ownership seasoning requirement before the borrower is able to use the appraised value on an investment property? |
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| Fannie Origination Fee Exceeds 5%: I am being asked to reduce the origination fees since I am over the 5% allowed. What are the rules to this requirement? |
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| Fannie Borrowed Funds for Down Payment: Can a borrower draw funds from a home equity line of credit (on current home) for a down payment on another home? What are the rules? |
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| FHA Credit Trade Lines: Can a borrower, who has a credit score, but only 1 trade line in the last 6 months and no alternative credit, get an FHA loan? |
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| FHA 90-Day Flipping Rule: My underwriter says I can’t do the loan, based on the 90-day flipping rule until an “official” announcement is made via Mortgagee Letter. Is there an “official” ML about this? |
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| FHA Property Ownership Limit: Can borrowers do a rate & term refi on primary residence, even if they own 8 other rental properties? |
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| VA New Construction Rules: Can I do a VA loan on a new construction home that was foreclosed on by the bank when I don’t have any construction documents or builder warranties? [VA Minimum Property Standards included. ] |
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| VA H06 Condo Insurance: Are the condo insurance rules (HO6 "walls in") the same for VA condo loans (as they are for FHA)? |
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| VA Seller Concessions: I've heard that the seller's contribution can EXCEED 4%. What are the rules and allowed fees? [VA Policy on Fees and Charges by the Veteran Borrower included.] |
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| Compliance Broker Fee Agreement: My current Broker Fee Agreement Form does not seem to be consistent with the new RESPA GFE rules and regulations? Do you have an updated version? [Download Mortgage Broker Fee Agreement Form.] |
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| Compliance Reg Z Rules: Where do I find the guidelines for advertising - rates in the newspapers and radio? [Includes Mortgage Talking PointsTM flyer, Advertising Rules (RegZ) for Real Estate Agents and Builders] |
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