Latest News Author: backerman

Topic included in Bulletin W13-090: Freddie Mac Loan Prospector (LP) findings now available for VA Standard and High Balance product offerings Advantages of using LP LP Reminders LP Sponsorship procedures will be sent in a separate bulletin Credit credentials previously provided, however, additional information will be provided Update effective Friday, August 1, 2013 Download: Bulletin […]

Topic included in Bulletin W13-088: Santa Ana Homeownership Center (HOC) implemented new procedures for specific case processing requests Processing requests affected by change are: Case Cancellation Case Transfer Case Reinstatement Mortgage Insurance Certificate (MIC Corrections) Requests need to be sent through the FHA Resource Center at answers@hud.gov Specific templates required for each process Templates found […]

Topic included in Bulletin W13-087: Effective Thursday, August 1, 2013 Lenders Choice AMC (LCI) will no longer be an approved AMC for CMS LCI is a California based AMC company only Approved CMS AMCs are: Clear Capital Appraisals Nationwide Property & Appraisals Old Republic ProTeck Valuation Services ServiceLink StreetLinks Lender Solutions Appraisals ordered after July […]

Topic included in Bulletin W13-086: FHA Standard and High Balance matrix has been updated 3-4 units require a minimum credit score of 620 Changes effective immediately Website updated Download: Bulletin - W13-086 (PDF)

Topic included in Bulletin W13-085: Credit scores <600 required an “Approved” status prior to locking the loan on the following product offerings: FHA Standard and High Balance FHA Streamline, Standard and High Balance USDA VA Standard and High Balance VA IRRRL, Standard and High Balance This update is effective immediately Download: Bulletin - W13-085 (PDF)

Topic included in Bulletin W13-084: CMS MLD announces Advertising and Marketing Approval Request Policy Policies provides the use of marketing and advertising materials The policy addresses: Electronic Communications Joint Statements and Appearances Review/Approval Social Media News Media Publications Media Relations Communications/Interviews External Speaking Engagements CMS Intranet Website CMS Wholesale Website Individual Associate web pages Trade […]

Topic included in Bulletin W13-083: CMS announces Associate Training and Development Policy Policy documents the policies and information regarding job specific training Policy is effective immediately Policy is posted on the Intranet Download: Bulletin - W13-083 (PDF)

Topic included in Bulletin W13-082: CMS announces Loan Deficiency Procedure Procedure provides the actions required by specific departments and individuals of CMS MLD to escalate and resolved aged loan deficiencies Loan Deficiency Procedure is effective immediately Download: Bulletin - W13-082 (PDF)

Topic included in Bulletin W13-081: CMS has published a Complaint Policy Policy defines the policy how CMS MLD responds when a complaint is received Policy addresses the following types of customer complaints: Legal or Regulatory Product or Services Allegations of fraud Definition of complaint provided Policy is posted on the Intranet  All Associates are required […]

Topic included in Bulletin W13-080: Loans originated under the LPMI program must be manually priced when the loan falls into either of the following categories: Primary Residence Purchase or Rate/Term Refinance transactions between 95.01% and 97% Primary Residence Purchase or Rate/Term Refinance transactions with FICO <700 This process only affects conforming loans amounts Process is […]