Latest News Author: backerman

Topic included in Bulletin W13-054: Launch of Escrow Holdback Program Escrow Holdback Program available immediately for all CMS programs, except, Conventional Jumbo Program allows loans on properties where scheduled improvements/repairs are to be completed after the close of escrow There are various escrow holdback requirements for different programs, as well as limitations on the types […]

Please be advised, all brokers ordering appraisals through Nationwide Property & Appraisal Services, there is a new ordering system and web page currently being utilized. Nationwide is in the process of emailing all registered users their new system credentials which include a training manual, website link and new user names and passwords.

Topic included in Bulletin W13-053: FHA and VA guidelines have been updated and are effective Monday, June 3, 2013 Updates include: First Time Homebuyers – removal of all prior overlays FHA Streamline Refinance s- Maximum CLTV increased to 125% Non-Traditional credit allowed on FHA and VA Standard programs Added section regarding Insufficient Credit to matrices […]

Topic included in Bulletin W13-052: Launch of Manufactured Homes on FHA and VA Product Offerings Highlights of the program are: Availability on Standard FHA, FHA Streamline, Standard VA and VA IRRRLs Must be permanently affixed to the foundation and taxed as real property Property must be completed; proposed construction and under construction loans are not […]

Topic included in Bulletin W13-051: Update, additional counties now eligible for Individual Assistance in Illinois Complete list of counties: Bureau, Cook, Crawford, DeKalb, DuPage, Fulton, Grundy, Henderson, Kane, Kendall, Knox, Lake, LaSalle, Livingston, Marshall, Mason, McDonough, McHenry, Peoria, Rock Island, Schuyler, Stark,Tazzewell, Will and Woodford For further guidance and loan property requirements refer to the […]

Topic included in Bulletin W13-050: New labels available in Data Trac Bulletin includes Label Name, Category and Documents to be Filed Under Effective immediately Download: Bulletin - W13-050 (PDF)

Bulletin W13-049 - FEMA Disaster Declaration for Oklahoma Topic included in Bulletin W13-049: The Underwriting Matrix has been updated Updates include items for: District of Columbia New Mexico Maryland Oklahoma New Hampshire New York Texas Tennessee West Virginia The updated matrix has been posted to the Intranet Download: Bulletin - W13-049 (PDF)

Topic included in Bulletin W13-048: The following counties in Oklahoma have been declared a disaster by FEMA: Cleveland Lincoln McClain Oklahoma Pottawatomie Additional guidance and loan property requirements are available in the CMS Declared Disaster Policy which is available on the Intranet Download: Bulletin - W13-048 (PDF)

Carrington Mortgage is pushing back on the market with a reduction in FHA price adjustments, effective now. Already in Pipeline Manager, submit a loan today. FHA Credit Adjustments: FICO 620-639, Reduced 75bps to now, 100bps FICO 600-619 Reduced 125bps to now, 150bps Get notified of promotions and important information, join our email list. Along with the addition […]

Carrington Mortgage has improved pricing 20bps on FHA Loans, purchase and refinance (including Streamline). Already in Pipeline Manager, submit a loan today. Expanded Guidelines on FHA Programs Just Released Get notified of promotions and important information, join our email list. FTHB (First Time Home Buyer), FHA Purchase: No overlays with DU Approve/Eligible Manufactured Housing, FHA Purchase and […]