Weekly Underwriting Updates to Sales 12.2.19
Updated: 12/02/2019
Article #: 186
Weekly Underwriting Updates to Sales 12.2.2019
FHA
No Updates at this time
FNMA/FHLMC
Fannie Mae
Fannie Mae has announced that the Conventional Loan limits for 2020 are increasing
- DU will be updated 12/7/2019 with the new loan limits. Until that time, you would receive an Approve/Ineligible AUS result due to the loan amount.
- The loan cannot close until after 1/1/2020 as the Note Date must be after this date.
- Secondary is working on getting updates from the investors as to when they will start offering pricing on the new loan limits. So, I do not advise originating a loan at the new limits until we know when pricing will be available.
Link to the All Regs announcement can be foundhere
First Mortgage Loan Limits
The following chart contains the general loan limits for 2020:
| Units | General Loan Limits | |
|---|---|---|
| Contiguous States, District of Columbia, and Puerto Rico | Alaska, Guam, Hawaii, and U.S. Virgin Islands | |
| One | $510,400 | $765,600 |
| Two | $653,550 | $980,325 |
| Three | $789,950 | $1,184,925 |
| Four | $981,700 | $1,472,550 |
USDA
No updates at this time
VA
No updates at this time
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