Mortgage Currentcy Mortgage Rules and Regulations - Interpreting the Rules and Mortgage News...for you! http://www.MortgageCurrentcy.com FannieFreddie Financed Mortgage Insurance: Whats the difference between FannieFreddie when it comes to Financed PMI? Chart Included - Comparing FannieFreddie Financed Mortgage Insurance http://www.MortgageCurrentcy.com/index.php#717 Fannie Delayed Paycheck: I have a borrower who is scheduled to receive their 1st SS check in Oct Do we have to wait to close the loan so the first payment due date falls on Oct? (I guess the same question would apply if someone is starting a new job and wants to close before receiving their 1st paycheck) http://www.MortgageCurrentcy.com/index.php#720 Freddie Rules if Prior Foreclosure: I would like to know if Freddies rules are different than Fannies on short sales deed-in-lieu http://www.MortgageCurrentcy.com/index.php#721 FHA Assumable Loan Rules: My FHA borrower disclosures mention the ability to assume an FHA loan - How does that work? Download Mortgage Talking PointsTM flyer FHA AssumptionsMore ales http://www.MortgageCurrentcy.com/index.php#722 FHA and Short Sales: What are the rules for obtaining a new FHA loan if a borrower has had a short sale? Download Mortgage Talking PointsTM flyer FHA Short Sale Rules http://www.MortgageCurrentcy.com/index.php#723 FHA Streamline Refi: What is the max loan amount for a FHA streamline refinance without an appraisal? Download FHA Streamline Refi Worksheet http://www.MortgageCurrentcy.com/index.php#726 FHA Assumable Loan Rules: What is FHAs policy for collection accounts? I have a high credit score borrower however he has a 16k and a 9k (recent) medical collection http://www.MortgageCurrentcy.com/index.php#724 FHA Reverse Mortgage: I have a motherdaughter that have been living in the subject property for years The property is in the daughters name The daughter is 6 months late on her mortgage Can we transfer the deed to the mother and do a reverse mortgage? http://www.MortgageCurrentcy.com/index.php#728 VA Flipping Policy: I have a borrower purchasing a home that Fannie Mae just took over 1 month ago The new purchase will be a VA loan Does VA require 2 appraisals as FHA does if the property is purchased within 90 days of the previous sale? http://www.MortgageCurrentcy.com/index.php#725 VA Cash-Out Refinance: Can you do a VA Refinance cash-out or rate and term on a property that currently does not have a mortgage? The VA Handbook is really vague on this issue http://www.MortgageCurrentcy.com/index.php#727 Compliance LQI Credit Inquiries: I am trying to find out how to comply with LQI if new inquiry? Is the borrowers statement enough? Or do you have to check with Creditor or credit bureau? Download Mortgage Talking PointsTM flyer Credit Dos Donts Before You Close - Coaching Your Clients http://www.MortgageCurrentcy.com/index.php#718 GFE 10-Day Closing Cost Guarantee: I was under the impression that 10 days was the standard but an Attorney told me yesterday that we (Lender) could decide on how long we will honor the closing costs on the GFE http://www.MortgageCurrentcy.com/index.php#719