Latest News Category: Bulletin

Topic included in Bulletin W13-017: Reminder, Account Executives need to have a current license in Florida and Kentucky when loans are submitted to CMS in these states Download: Bulletin - W13-017 (PDF)

Topic included in Bulletin W13-016: Pricing Engine has been updated with the guidelines for FHA, VA and DU Refi Plus Manual Locks and Price Quotes no longer necessary Download: Bulletin - W13-016 (PDF)

Topic included in Bulletin W13-015: CMS has made changes to the FHA and VA guidelines Changes are effective immediately The pricing engine will be updated with these changes by Monday, February 25, 2013 Loans being locked under the new guidelines will temporarily be manual locks Email the CMS Lock Desk for quotes and lock requests […]

Topic included in Bulletin W13-014: DU Refi Plus Matrix has been updated Updates effective immediately Updates include: Primary Residence, 1-2 units, Conforming and High Balance loan limits, 135% LTV/CLTV with 660 credit score Primary Residence, 1-2 units, Conforming and High balance loan limits, 105% LTV/CLTV with 620 credit score 50% DTI regardless of DU findings […]

Topic included in Bulletin W13-013: Property inspections are no longer required on FHA Streamline loans On Conventional and Government loans with appraisals, if the appraisal was completed prior to Hurricane Sandy and is less than 120 days at Note date, an inspection will be required. If the appraisal is greater than 120 days, a new […]

Bulletin W13-012 - Guideline Updates Topic included in Bulletin W13-012: Monday, February 18, 2013 is Presidents Day and is a Federal holiday A staff of volunteers will be working on Monday, however, the Lock Desk will be closed Normal Lock Desk hours will resume on Tuesday, February 19, 2013 Important disclosure date considerations An announcement […]

Topic included in Bulletin W13-011: Updates to the CMS Underwriting Guidelines Effective immediately Guidelines updated and posted to the Intranet Guideline topics that are updated: Clarification to 4506T (Tax Transcripts) Requirements Age of Appraisal Maximum number of properties financed with CMS Non-Permitted Addition, Improvement or Conversion Property Flipping Download: Bulletin - W13-011 (PDF)

Topic included in Bulletin W13-006: Intranet Update Compiled Approved New York Attorney list Closing Attorney Risk Management Policy is in the process of being created Approved New York Attorney List can be found on the Intranet at; Mortgage Services/Mortgage Lending/MLD Approved Vendors/Preferred Closing/Settlement Agents Download: Bulletin - W13-006 (PDF)

Bulletin W13-010 - Update, DU Refi Plus Matrix Topic included in Bulletin W13-010: Intranet Update Additional information, MLD Approved Vendors Approved New York Attorney list found under the category Preferred Closing/Settlement Agents Business Links and Tools page has been updated MLD Approved Vendor Lists can be found at; Mortgage Services/Mortgage Lending/Approved Vendors Download: Bulletin - […]

Topic included in Bulletin W13-009: DU Refi Plus Matrix updated Updates effective immediately Updates include: Corrected grid to reflect max 50% DTI versus evaluated by DU Addition, bedroom and bathroom count to be listed on the 1008 when using Property Inspection Waiver (PIW) Website will be updated Matrix can be found at:  Mortgage Services/Mortgage Lending/Guidelines […]