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FHA changed their guidelines on a cash-out refinance by lowering the loan to value to 80% from 85%. This goes into effect on September 1, 2019 so we still have a small window of time if you are considering this option. Contact me or PM me to discuss.

Related Article Title: FHA Mortgagee Letter 2019-11, Maximum Loan-To-Value and Combined Loan-To-Value Percentages for Cash-out Refinance Mortgages – Dated August 1, 2019 Written by: Tracey Rumsey, Staff Writer Big changes for FHA originators as FHA evaluates the programs that are causing their insurance fund the most problems. If you originate FHA loans, this is a [...]

2019-08-09T13:19:42-05:00August 12th, 2019|FHA, Social Media Posts|

FHA issued an update regarding Well/Septic requirements. If you would like an updated property conditions checklist, comment below.

Related Article Title: FHA Updates to Handbook 4000.1, FHA Info # 19-34, July 10, 2019, Effective July 10, 2019 Written by: Tracey Rumsey, Staff Writer FHA is finally starting to issue timely updates to their underwriting manual so that lenders do not need to hunt for rules and then re-verify what they read. This article [...]

2019-08-09T13:24:07-05:00August 12th, 2019|FHA, Social Media Posts|

Did you know that Fannie Mae will allow a self-employed borrower to use business assets for down payment and closing costs? Curious as to how that works? Contact or PM me to discuss your situation.

Related Article Title: Fannie Mae’s Top Trending Questions – Dated May 2019 Written by: Lloyd Rutherford, Staff Writer Keeping up with rule changes is a challenge for even the most experienced underwriter or originator. That is part of the value of Mortgage Currentcy! In this article, Fannie Mae has updated their “trending questions” to keep [...]

2019-08-09T13:08:19-05:00August 12th, 2019|Fannie Mae, Social Media Posts|

Collection accounts can affect your credit score, but they do not always need to be paid off in order to get a mortgage. Get the clear facts by contacting or sending me a PM and let’s discuss your situation!

Related Article Title: Fannie Mae’s Top Trending Questions – Dated May 2019 Written by: Lloyd Rutherford, Staff Writer Keeping up with rule changes is a challenge for even the most experienced underwriter or originator. That is part of the value of Mortgage Currentcy! In this article, Fannie Mae has updated their “trending questions” to keep [...]

2019-08-09T13:11:00-05:00August 12th, 2019|Fannie Mae, Social Media Posts|

Consumer Warning! If you have submitted your Name, Income, Social Security Number, Property Address, Estimated Value or Sales Price and Requested Loan Amount, a lender must issue a Loan Estimate to you. Do not be fooled by those who tell you they need to verify information or ask you for more information prior to giving you a Loan Estimate. It’s the Law!

Related Article Title: CFPB-TRID-RESPA FAQs Update – Loan Estimates Written By: Tammy Butler, Master CMB The CFPB continues to clarify industry questions from lenders regarding TRID disclosures and RESPA requirements. In this update the bureau addresses frequently asked questions on Loan Estimates. Rule Synopsis: Periodically, the CFPB issues clarifications to the very complex TRID-RESPA rules. [...]

2019-08-09T13:04:45-05:00August 12th, 2019|CFPB, Social Media Posts|