Rules – February 10, 2019

VA Revisions to Cash-Out Refinance Program – Circular 26-19-05 – Change 1, and Exhibit A Dated February 14 & 15, 2019

Written By: Tracey Rumsey, Staff Writer VA has made last minute announcements and provided a new Exhibit for their new Cash Out Refinance Rules that are effective with applications taken on or after today, February 15, 2019.  In order to provide you with some coping resources for this massive change: the 2 new Circulars have  [...]

2019-02-15T16:04:35-05:00February 15th, 2019|

CFPB – TRID [TILA-RESPA Integrated Disclosure] FAQ Released January 25, 2019

Written By: Tammy Butler, Master CMB Hooray!  More clarity on TRID!  Anytime we don’t have to guess what to do regarding disclosures, is a happy day.  Read this quick FAQ to learn more. Rule Synopsis: On October 3, 2015 [yes, 3.5 years ago] TRID [TILA-RESPA Integrated Disclosure] changed the way that mortgage lenders disclose loans.  With [...]

2019-02-15T16:00:37-05:00February 10th, 2019|

CFPB – Reportable HMDA Data: A Regulatory and Reporting Overview Reference Chart for HMDA Data Collected in 2019 – Updated January 31, 2019

Written By: Tammy Butler, Master CMB If you are responsible for filing HMDA data, this recently updated chart is important to get your report right for 2019. Rule Synopsis: Effective January 1, 2018 Dodd Frank mandated required updates to the collection of HMDA data from mortgage lenders.  The CFPB added additional fields beyond what was required [...]

2019-02-10T17:02:15-05:00February 10th, 2019|

Freddie Mac – Loan Product Advisor Release Notes – Dated January 27, 2019 – Effective January 27, 2019

Written By: Lloyd Rutherford, Staff Writer With this release comes great news!  Freddie Mac is finally publishing release notes for LPA.  Anyone that uses Loan Product Advisor needs to read through the debut release. Rule Synopsis: Freddie Mac introduces their inaugural LPA Release Notes! Freddie also included a link to their Job Aid for Reminders [...]

2019-02-11T09:28:50-05:00February 10th, 2019|

Fannie Mae – Desktop Underwriter (DU) Validation Service Message Rewrite FAQs – Dated November 29, 2018 – Effective March 23, 2019

Written By: Lloyd Rutherford, Staff Writer Day 1 Certainty usage is growing fast.  If you work with Day 1 or DU, this article will prepare you for upcoming changes to the DU Validation Messages. Rule Synopsis: Fannie Mae released an FAQ document to address the changes that will be coming to the messages associated with [...]

2019-02-10T17:33:24-05:00February 10th, 2019|