Industry & Guideline Updates

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NOTICE:  Due to regulation changes the content of this article is no longer current.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. 

During 2015 FNMA had notified users in a few of the SEL’s about guideline clarifications on self employed borrowers that felt a bit like a seesaw.  As you remember there was

Over the last few blogs I have been reviewing the recent guideline changes from both FNMA and FHLMC.  In this blog I want to move outside of the detail points of

Both of the GSE’s continue to review and revamp their guidelines on a number of topics, today’s blog we will go over the changes that now make it easier for

Over the last few weeks we have been talking about some big changes in the guidelines over at Fannie Mae, but Freddie Mac is also in the process of making