Latest News Author: backerman

Topic included in Bulletin W13-047: CMS will be closed on Monday, May 27, 2013 in observance of Memorial Day The Lock Desk will be closing early on Friday, May 24, 2013 at 10:00 AM PST and will be closed on Monday, May 27, 2013 Normal lock hours will resume on Tuesday, May 28, 2013 Important […]

Topic included in Bulletin W13-046: CMS has published an Adverse Action Policy Policy is effective Friday, May 17, 2013 Policy and Procedure can be found on the Intranet at, Mortgage/Lending/Policies and Procedures Download: Bulletin - W13-046 (PDF)

Topic included in Bulletin W13-045: Jumbo product guidelines updated and effective Monday, May 20, 2013 Updates include: Revised documentation requirements when using retirement funds for closing/or reserves Added HPML (Section 35) as ineligible for the Jumbo program Updates are posted to the Intranet and the website has been updated Download: Bulletin - W13-045 (PDF)

Topic included in Bulletin W13-044: Due to recent severe storms, straight-line winds and flooding in Illinois, FEMA has declared the following counties a disaster: Cook, DeKalb, DuPage, Fulton, Grundy, Kane, Kendall, Lake, LaSalle, McHenry and Will Refer to the CMS Declared Disaster Policy for further guidance and loan property requirements CMS Declared Disaster Policy posted […]

Topic included in Bulletin W13-043: CMS will accept hazard insurance policies that are underwritten by a state’s Fair Access to Insurance Requirements (FAIR) plan if it is the only coverage available CMS will also accept coverage through a state’s insurance plan if it is the only coverage available CMS will accept policies of an insurer […]

Topic included in Bulletin W13-042: New program available Monday, May 13, 2013; FHA $100 Down Payment Program Standard FHA guidelines apply to this program in addition to the following: Must be HUD REO Sales Agent must be HUD approved and sales contract must confirm transaction is $100 Down Payment Program Property must be appraised “as-is” […]

Topic included in Bulletin W13-041: West Virginia has been added as an approved state for Wholesale, effective Thursday, May 9, 2013 The following systems are ready for West Virginia: Data Trac Pipeline Manager DocuTech Comergence Optimal Blue State guides are available on the  Intranet The website will be updated Download: Bulletin - W13-041 (PDF)

Topic included in Bulletin W13-039: McLennan County declared a Disaster, due to recent explosion CMS Declared Disaster Policy can be found on the Intranet at; Mortgage Services/Mortgage Lending/Policies and Procedures/Declared Disaster Policy Download: Bulletin - W13-039 (PDF)

Topic included in Bulletin W13-038: Conventional Product guidelines updated Effective Wednesday, May 1, 2013 Updates include: 30 Year Fixed Rate Only AUS Approve/Eligible required Minimum 680 credit score First Time Homebuyers are eligible Must meet MI Company guidelines, including eligible property types, market classifications Deferred monthly MI (no money is needed at closing to set […]

Topic included in Bulletin W13-037: CMS has published a Hazard and Flood Insurance Policy Best Guide is posted on the Intranet at; Mortgage Services/Mortgage Lending/Approved Vendors Hazard Insurance Policy How to Guide is attached for your reference Hazard Insurance Policy How to Guide is also posted on the Intranet at; Mortgage Services/Mortgage Lending/Training Materials/User Guides […]