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 […]
Latest News Category: Bulletin
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 […]
Topic included in Bulletin W13-036: Essent Guaranty, Inc is now an approved Mortgage Insurance Vendor for CMS Complete list of approved MI vendors: Essent Guaranty, Inc MGIC Radian United Guaranty Credentials will be provided to Operation Associates The Intranet is updated and the website is in the process of being updated Download: Bulletin - W13-036 […]
Topic included in Bulletin W13-035: Reminder, Monday, March 25, 2013, Appraisal Management Solutions, LLC (AMS) and HVCC Appraisal Ordering are no longer approved AMCs Approved AMC companies are: Clear Capital Appraisals Lender’s Choice AMC (CA Only) Nationwide Property & Appraisal Old Republic Pro Teck Valuation Services ServiceLink StreetLinks Lender Solutions Appraisals ordered after March 25, […]
Reviving homeownership can help the mortgage industry and the economy Ray Brousseau, executive vice president, Mortgage Lending Division, Carrington Mortgage Services LLC As published in Scotsman Guide's Residential Edition, March 2013. As the American public frets over the financial future of our nation and government officials lay out possible course corrections, it’s time for high-impact […]