Covers mortgage industry news, policy changes, and new underwriting guidelines.
Coming in February 2018 underwriters will need to consider more information before using rental income to qualify a borrower. Agencies, banks, credit unions, and broker shops will adjust guidelines based
Many people have heard the rumors and seen the blogs and articles about the DTI going up to 50% announced in the new DU 10.1 version now out in the
Continuing on with part two of our blog series about the Fannie Mae Day 1 Certainty program, today we focus on the collateral section of the Day 1 program. Years
Good news for the mortgage lending world, we have an advocate in our marketplace who wants the same goals for our companies as we do! Who is this silent partner?
A few days ago I received a question about how to handle large deposits when the transaction is a refinance on a FNMA conventional loan. The question specifically asked if
One of the most common topics I run across for self-employed borrowers is the discussion on ”The dreaded Distribution Versus Ordinary Income”. Even though the guidelines clearly outlined these requirements
Working in the mortgage business sometimes I forgot that FHLMC and FNMA are competing companies, most lenders work with both companies so they just seem to complement each other not
A few years back FNMA updated their website to include a well designed, searchable, web based version of Allregs. In 2015 for the FHA program HUD created a sleek new
NOTICE: Due to regulation changes the content of this article is no longer current. For years FNMA’s guidelines for self-employed borrowers who receive income on the K-1 form (either
FNMA Form 1084 Is Better, But Not Perfect If you have been following my blogs a recurring theme is how both agencies have made many updates to their guidelines and programs.
