Renovation

Freddie Mac Selling Guide Updates – Bulletin 2019-14 – Dated June 19, 2019 – NEW MTP™ Freddie Mac ChoiceRenovation® Program

Written by: Lloyd Rutherford, Staff Writer More options for those of you in markets with lower inventory! Check out the new updates in Freddie Mac’s renovation program. I think you’re going to like how this program will help you generate more business. Rule Synopsis: Freddie Mac is updating their selling guide to introduce their newest [...]

2019-07-09T10:48:57-05:00July 10th, 2019|

FHA – 203K Refinance-Rental Unit: Can a 203K rate/term refinance be used to renovate a unit of a 2-4 unit property, and can this rental income be counted to qualify?

Answer: FHA does not have any special provisions for calculating rental income on a 203K loan. The standard guidelines will apply and the rental income can be used per the policies below. Reference: (I) Rental Income (TOTAL) (1) Definition: Rental Income refers to income received or to be received from the subject Property or other real estate [...]

2018-06-25T08:26:02-05:00June 24th, 2018|

Fannie Mae SEL-2018-02 (2-28-2018) UPDATED (FNMA Form 1035)-(HomeStyle Renovation vs. HomeStyle Energy Chart)-(MTP-Energy Improvement Financing)-(MTP-Using HomeStyle® Energy to Sell More Homes)-(MTP-Fannie Mae HomeStyle® Renovation Loans)

Wow!  Big changes that can impact your business in a positive way are being made to HomeStyle® Renovation and HomeStyle® Energy programs.  If you have not participated in this program, Fannie is now opening it up to all!  Read this article and you may just discover a new niche. Rule Synopsis Fannie Mae is updating [...]

2018-05-31T09:37:03-05:00March 9th, 2018|

Fannie Mae – Desktop Underwriter/Desktop Originator Release Notes – DU Version 10.2 – Dated January 30, 2018 – Effective March 17, 2018-Updated MTP-Fannie Mae HomeStyle® Renovation Mortgage

By: Lloyd Rutherford – Staff Writer There are Very Important Changes in this update and it is a MUST READ! This update requires action on your part so as not to lose any potential loans in your pipeline. Rule Synopsis: This article outlines the changes we can expect to see when DU 10.2 is released [...]

2018-06-01T13:08:38-05:00February 8th, 2018|