Latest News Category: Bulletin

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 […]

Topic included in Bulletin W13-034: Reminder, tax transcripts are required for all qualifying borrowers Documentation requirements when tax return filed before April 15, 2013 Documentation requirements when tax return filed after April 15, 2013 Documentation requirements after October 15, 2013 Download: Bulletin - W13-034 (PDF)

Topic included in Bulletin W13-033: CMS pleased to announce the addition of the FHA Streamline 203(k) to our product offering, effective Monday, April 15, 2013 203(k) program allows borrowers to purchase a property or refinance an existing property requiring repairs with permanent financing Program enables the borrower to obtain one mortgage that provides funds for […]

Topic included in Bulletin W13-031: Conventional Conforming DU Matrix has been updated Effective now Updates include: Investment property 85% - the minimum credit score is 680 due to MI guidelines Borrower must make a minimum 5% contribution when gift funds are involved in transaction and LTV>80% and the subject property is a primary residence of […]

Topic included in Bulletin W13-030: Jumbo Matrix has been updated and is effective now Updates include: Amended the minimum tradeline requirements: All qualifying Borrowers must meet the minimum tradeline requirements. A minimum of 3 open tradelines each rated for 36 months. All 3 trades must have activity within the last 6 months. This is defined […]