Latest News Category: Bulletin

During the weekend of October 20, 2012, Fannie Mae will implement DU Version 9.0 The changes included in this release will apply to new loan casefiles submitted to DU on or after the weekend of October 20, 2012 Loan casefiles created in DU Version 8.3 and resubmitted after the weekend of October 20 will continue […]

This bulletin is an announcement regarding updates to the FHA Streamline program that are effective Friday, October 12, 2012. 3-4 unit properties are no longer eligible for the FHA Streamline program 3-4 unit properties that are currently in process, the following applies: Full appraisal required The property must have a positive cash flow, full income […]

This bulletin introduces a new format for communications.  Policy, Product and Training announcements will be sent to all distribution lists impacted by the communication Announcements will be color coded to help quickly identify the type of bulletin The color coding will also be displayed in the body of the email Announcements will include a contact/resource […]

Product Overview Min FICO 700 - Max loan amount of $1M -Purchases, rate & term refi, and cash out refi Min FICO 720 - Max loan amount of $2M - Purchases and rate & term refi LTV 80%; Max Ratios 45% 0x30 last 12 months; 0x60+ last 24 months Minimum cash - 5% from borrower's own funds […]

This bulletin discusses the recent FEMA declaration for Ferry and Okanogan counties in Washington state due to the severe storm, straight-line winds and flooding. Download: Bulletin - #W1287 (PDF)

This bulletin discusses the upcoming Federal Holiday, Columbus Day which is Monday October 8, 2012. CMS is open, however the Lock Desk is closed No locks, extensions or relocks will be accepted on Monday October 8, 2012 Capital Markets will be available for customer service issues only Normal lock desk hours will resume on Tuesday, […]

This bulletin is about the Anti-Steering Disclosure process. CMS requires that the Broker provide the Anti-Steering Disclosure effective immediately on Lender Paid transactions If the disclosure is not included at time of submission the Underwriter will condition the loan appropriately as  PTD condition The Safe Harbor Certification will no longer be a required document The […]

This bulletin is about the recent FEMA announcement for fires in: California  - Shockey Fire, San Diego County Washington – Table Mountain Fire, Kittitas County Please be sure to check your pipelines for properties that are affected by this announcement. Download: Bulletin - #W1283 (PDF)

This bulletin is an update to the Photo ID process. Update is effective immediately The only picture identification that should be uploaded (if required by Underwriting) into Data Trac EDM are; Resident Alien Card VISA If photo identification is inadvertently uploaded the ID must be left sided prior to submission to Underwriting Any Associate who […]

This bulletin announces significant changes to the way that we manage our FHA Streamline Refinances. Effective October 1, 2012 all FHA Streamlines must have include the following documents: FHA Transmittal – 92900-LT Fully Executed 1003 Fully Executed 92900a Evidence of SSN Tri-Merged Credit Report with FICO Scores only and most recent 12 month Mortgage History […]