Latest News Category: Bulletin

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 […]

Topic included in Bulletin W14-021: Tax transcripts are required on all qualifying borrowers Bulletin outlines the documentation requirements for 2013 tax transcripts for: Salaried Borrowers Retired Borrowers Self-Employed Borrowers After April 15, 2014 follow the existing CMS policy Download: Bulletin - W14-021 (PDF)

Topic included in Bulletin W14-020: The Broker Compensation Agreement has been updated, with the following changes: Amended the Borrower Paid Compensation (BPC) cap to read – BPC is capped at the greater of the minimum dollar amount or Lender Paid Compensation (LPC) percentage Added, dollar minimum amounts to the LPC plans: 0, $1500, $1750, $2000, […]

Topic included in Bulletin W14-019: Monday, February 17, 2014 is Presidents Day and is a Federal Holiday The Lock Desk will be closed on Monday, February 17, 2014 Normal Lock Hours will resume on Tuesday, February 18, 2014 Lock extensions will need to be requested prior to their expiration Important disclosure considerations associated with the […]

Topic included in Bulletin W14-018: CMS announces the acceptance of additional Down Payment Assistance Programs (DPAs), effective immediately The Bulletin lists all DPAs approved by CMS DPAs must be formally approved by CMS by sending the Down Payment Assistance Program Submission Form to the Product Development Manager, Patrick Hager Down Payment Assistance Program Submission Form […]

Topic included in Bulletin W14-016: Account Executives will no longer be required to be licensed in the state of Kentucky Account Executives will continue to be required to be licensed in: Florida Nevada (CMS, not active at time time) This effective immediately Download: Bulletin - W14-016 (PDF)

Topic included in Bulletin W14-017: The following matrices have been updated and are effective immediately: FHA Standard and High Balance FHA $100 Down Payment FHA 203(k) Streamline USDA FHA Streamline and Streamline Preferred Conventional Conforming and High Balance DU Refi Plus Open Access HomePath Lender-Paid Mortgage Insurance (LPMI) Co-Op Conventional, High Balance and Jumbo Jumbo […]

Topic included in Bulletin W14-014: A broker may use a Third Party Processing Company when the broker’s compensation does not include the addition of the $695 fee This is allowed on both Lender and Borrower paid compensation When the broker uses a Third Party Processing Company, the following are required: Third Party Processing Attestation Copy […]