Rules - August 10, 2016

Fannie Mae- HomeReady® Lender Documents Updated -SEL-2016-06-Dated July 26-2016 (Effective Immediately)

[Download Updated Chart – 97% Financing Options Comparison Chart – Effective 7-26-2016] AND [Download Mortgage Talking Points™, Fannie HomeReady­­® Mortgage Guidelines – Updated 7-16-2016] Rule Synopsis: Fannie Mae has issued some big updates on their HomeReady® so more people qualify. Multiple documents that support the HomeReady® product have been updated, including: Homeownership Education and Housing [...]

2018-12-16T13:39:22-05:00November 3rd, 2017|

Compliance – Avoiding Pricing Disparity Issues by Documenting the Borrower Decisions

Rule Synopsis: Did you know that the number one reason for pricing disparity is a decision by the borrower? In fact, these decisions can mean the difference of up to a 1% interest rate differential. Try explaining that to an examiner without proper documentation! When we see broad statements in settlements or actions, we generally [...]

2017-12-27T12:31:27-05:00November 3rd, 2017|