Rules – January 10, 2019

Freddie Mac News Center Bulletin – Introducing CHOICEHome – Dated December 6, 2018

Written By: Lloyd Rutherford, Staff Writer Freddie Mac has jumped into the Manufactured Housing pool with Fannie Mae.  In this article we highlight Freddie’s new program. Rule Synopsis: Freddie Mac is expanding their offering for manufactured housing due to their duty-to-serve initiative.  It is not too dissimilar to Fannie Mae’s MH Advantage. We will highlight [...]

2019-01-10T08:43:21-05:00January 10th, 2019|

Freddie Mac Multiple Selling Guide Updates – Bulletin 2018-24 – Dated December 5, 2018

Written By: Lloyd Rutherford, Staff Writer Important updates from Freddie Mac regarding Union Member workers, Master Condo policies and the revision of the 1077, which is the Underwriting Transmittal form.  Read this update to learn about the new changes. Rule Synopsis: Freddie Mac is updating their selling guide for a variety of topics. This article will [...]

2019-01-11T15:25:23-05:00January 10th, 2019|

Freddie Mac Bulletin 2018-23 – News Center Reminder – Asset and Income Modeler – Dated December 11, 2018

Written By: Lloyd Rutherford, Staff Writer Agency technology is getting more and more sophisticated.  Take a look at what Freddie Mac has just released that will help you compete with lenders like Quicken. Rule Synopsis: Last month (December 2018), in Freddie Mac Bulletin 2018-23, Freddie Mac introduced a new automated income and asset verification process [...]

2019-01-10T08:44:02-05:00January 10th, 2019|

VA Cash-Out Refinance Changes, Circular 26-18-30 – Dated December 19, 2018 & Circular 26-18-30, Change 1, Dated December 21, 2018 – Effective February 15, 2019 [NEW VA Cash-Out Refinance Checklist]

Written By: Tracey Rumsey, Staff Writer If you work with VA financing, this is a must read.  There are big changes to how and when a VA loan can be refinanced. Rule Synopsis: Effective with loan applications taken on or after February 15, 2019 the following requirements will apply to all VA Cash-Out Refinance loans including [...]

2019-01-10T08:44:22-05:00January 10th, 2019|

Fannie Mae – Multiple FAQ’s: DU/DO 10.3 – Dated December 17, 2018; Appraisal and Property-Related FAQs – Dated December 2018; and FAQs for Appraisal Waivers – Dated December 4, 2018 [UPDATED Chart – Fannie Mae – DU Tolerance Table]

Written By: Lloyd Rutherford, Staff Writer FAQs are great documents to provide clarification in the guidelines.  In this update we review the new FAQs for the latest DU/DO update and appraisal waivers.  Both are need-to-know for anyone involved in the front-end process. Rule Synopsis: Fannie Mae updated two of their FAQ documents for appraisal-related topics [...]

2019-01-10T08:44:42-05:00January 10th, 2019|