michelle m

About Michelle

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So far Michelle has created 7 blog entries.

All Agencies – Student Loan Payments: Do you have a chart that helps me figure out the student loan payment I should be using for a borrower?

Answer: Yes, we have a Student Loan Chart/Checklist- FHA/VA/USDA/Conventional Comparison (Updated Chart on 5/9/2018), and it is a very popular chart. We have attached the link below for your convenience. It gets updated as the guidelines change. Copyright – 2017 – MortgageCurrentcy.comA subscription is required to access this content—please view our available subscription options. If you are a [...]

2018-05-10T13:15:34-05:00December 28th, 2017|

Compliance-RESPA-Monthly Parties: Can we offer a monthly cocktail party for just those real estate agents we do business with?

Answer: We will give you our opinion from our RESPA expert. However, like all things legal, you should always consult your attorney. This question has come up to my attorney colleagues repeatedly. When a monthly cocktail party is used for marketing purposes, then it is important to invite groups as a whole. This means those [...]

2017-12-28T12:30:29-05:00December 28th, 2017|

Compliance – TRID-KBYO – Closing Document Dates: If borrowers receive documents in advance and sign earlier than the effective date of the documents, will that cause an issue? Settlement attorneys in our area said “no”.

Answer: This is an excellent and important question. The closing documents CAN NEVER be signed before the effective date. If you do, the consequence is typically an unsalable loan. Copyright – 2017 – MortgageCurrentcy.comA subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

2017-12-28T12:29:40-05:00December 28th, 2017|

VA-Circular 26-17-36, WebLGY System Enhancements for Certificate of Eligibility (COE) Processing-Dated November 16, 2017

Rule Synopsis: VA processes over 1 million COE requests for active duty and discharged Veterans each year. Currently, 64 percent of COE decisions are completed instantly. The WebLGY system enhancements will improve COE timeliness and accuracy by matching requests more effectively with VA and military records and funding fee exemptions. Effective Date: Enhancements to the [...]

2018-09-25T19:13:15-05:00December 28th, 2017|

FHA-Mortgagee Letter 2017-16, 2018 Nationwide Forward Mortgage Limits, December 7, 2017 Mortgagee Letter 2017-17, 2018 Nationwide Home Equity Conversion Mortgage (HECM) Limits, December 7, 2017-Effective January 1, 2018

Rule Synopsis: FHA Announces Loan Limits Updates! Contact me for the new limits in your area. Effective Date The mortgage limits announced in the letters are effective for all case numbers assigned on or after January 1, 2018. Forward Mortgages For calendar year 2018, there are increases across the board for ‘floor and ceiling’ limits [...]

2018-09-25T19:15:23-05:00December 28th, 2017|