Rules – July 10, 2017

NMLS Adds More States to the Uniform State Test (UST)-Updated Adoption Table Dated 5-23-2017-Effective 9-16-2017

Rule Synopsis: On September 16, 2017, South Carolina will adopt the NMLS Uniform State Test (UST) and will no longer require an individual State exam. With South Carolina’s adoption of the UST, there are only two remaining states where you are not automatically licensed – Minnesota and West Virginia. Those two states still require you [...]

2018-10-06T19:45:56-05:00November 4th, 2017|

Fannie Mae Changes Qualifying Requirements for HomeReady® Product – FAQ document dated June 2017-Effective with DU 10.1 Release on July 29, 2017

[UPDATED Mortgage Talking PointsTM flyer – Fannie Mae HomeReady® Mortgage Guidelines] | [New Chart – Homebuyer Education Chart – Which Education Provider is Acceptable?] | [Updated Chart – 97% Financing Options Comparison Chart] Rule Synopsis: Fannie Mae is eliminating non-borrower household income from their HomeReady® program effective 7-29-2017. Call me for details! Fannie Mae updates the qualifying requirement options for their HomeReady® product [...]

2018-10-16T18:35:54-05:00November 4th, 2017|

Fannie Mae Releases Selling Notice for HomeReady® Income Limits for 2017 – Dated June 20, 2017-Effective July 8, 2017

Rule Synopsis: Fannie releases new income limits for their HomeReady program effective July 8, 2017! Contact me for the new limits! Area Median Income Limits (AMI) have been adjusted for the rest of 2017. These are updated at the direction of the Federal Housing Finance Agency (FHFA). Some areas have gone up, some areas have [...]

2018-10-06T19:47:01-05:00November 4th, 2017|

Fannie Mae Updates FAQ Document for Student Loan Solutions and Debts Paid by Others – Dated June 2017-Effective Immediately

Updated Chart on 5/9/2018 – Student Loan Chart/Checklist- FHA/VA/USDA/Conventional Comparison Rule Synopsis: Fannie Mae issues an update on student loan debt. Contact me directly for the updated requirements. Fannie Mae issued an FAQs update to their student loan and debts paid by others document. The FAQs document contains 16 questions in total, up from 14 [...]

2018-10-06T19:47:34-05:00November 4th, 2017|