Latest News Author: backerman

Topic included in Bulletin W14-032: FHA, VA and USDA matrices updated with decreased minimum FICO requirements to 550 on the following programs: FHA Standard and High Balance FHA Streamline 203(k) Streamline USDA Standard and High Balance VA IRRRL Decreased minimum FICO requirement to 580 on: FHA $100 Down Payment Pricing Adjustments published Effective immediately Download: […]

Topic included in Bulletin W14-031: The Washington State Department of Financial Institutions (DFI) considers all devices connected to the Internet running Windows XP a serious security risk Devices include:  PCs, Laptops and Tablets DFI has received information from credible sources that cyber criminals are poised to take advantage of this opportunity to infect and control […]

Topic included in Bulletin W14-030: Lock Desk closing early today, at 2:00 PM PST for a company meeting All lock requests, extensions and renegotiations need to be received prior to 2:00 PM PST The Lock Desk will resume normal business hours on Friday, March 21, 2014 Download: Bulletin - W14-030 (PDF)

Topic included in Bulletin W14-029: FHA Streamline and VA IRRRL matrices have been updated FHA Streamline updates include: 3-4 units added Non-Owner Occupied 1-4 units added Mortgage history overlay removed: 1x30 in past 12 months, with no late payments in the past 90 days Modification overlay removed VA IRRRL updates include: Non-Owner Occupied 1-4 units […]

Topic included in Bulletin W14-027: The Santa Ana Operations Center is the only center currently authorized to draw docs and fund loans for a South Carolina transaction Encompass has been updated with “stops” at the following milestones: Ready for Docs Docs Out Doc Signing Funding Review Funding Shipping An error message will appear at the […]

Topic included in Bulletin W14-026: Approval of additional DAPs by CMS, updates include: Columbia County, PA City of Houston, TX Harris County, TX Hillsborough County, FL City of Providence, RI City of San Antonio, TX The complete list of CMS approved DAPs is published on the Intranet Reminder:  DAPs must be formally approved by CMS, […]

Topic included in Bulletin W14-025: The Clean Desk Policy has been updated as a result of increased violations Bulletin outlines new rules: New Associates Current Associates Department Manager responsibilities Consequences for violations Effective March 1, 2014 Download: Bulletin - W14-025 (PDF)

Topic included in Bulletin W14-024: South Carolina added as an approved state Only offices with a licensed Regional Sales Manager may originate business in South Carolina Systems have been updated The South Carolina State Guide can be found on the Intranet The website is in the process of being updated Download: Bulletin - W14-024 (PDF)

Topic included in Bulletin W14-023: CMS has published USDA guidelines, which are effective immediately Conventional, FHA Standard and High Balance and VA Standard and High Balance Matrices and Guidelines have been updated Bulletin outlines updates by loan type Updated Guidelines and Matrices have been published on the Intranet; links to each provided in bulletin Download: […]

Topic included in Bulletin W14-022: CMS now permits LP or DU to be run as the initial AUS on a loan Note; DU is the preferred AUS of CMS and current guidelines are DU focused All AUS versions run on the loan must be included with the loan submission The Credit Policy and “Submit to […]