Good morning sales team!
Each week, I’ll be sending out information about upcoming agency changes to guidelines, investor changes and any industry news. I receive the information on Friday from the credit policy team and will send out on Monday morning to all of you. Have a great week!
FHA
Case Numbers 10.15 and after will be subject to the new condo review
Link to the HUD Handbook: Click Here
Link to the full mortgagee letter: Click Here
FHLMC
Freddie Mac Tests Underwriting Software that could Boost Mortgage Approvals
Link to MBA Article: Click Here
Full MBA email is attached
FNMA
Top Questions of the week:
Fannie Mae FAQ - Top Questions
USDA
Fiscal Year begins 10.1 for two weeks. Commitments will be issued with ‘subject to availability of commitment authority’
Planet and Freedom have confirmed they will continue with business as usual
VA
VA Cash Out is limited to 90% LTV – there will be no exceptions since this an agency change (all our investors have notified they are falling in line with agency)
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