Lender Letter 2013-01
Announces the approval of National Mortgage Insurance Corporation as a new mortgage insurer to provide mortgage insurance
for conventional first mortgage loans.
UCDP January 26 Release Reminder
On Jan. 26, 2014, Fannie Mae and Freddie Mac (the GSEs) will be implementing the second phase of the conversion of current
Uniform Appraisal Dataset (UAD) compliance warning edits to fatal UAD edits in the Uniform Collateral Data Portal (UCDP).
A number of topics have been updated in the Selling Guide related to the use of a power of attorney, eligibility criterion
for DU Refi Plus and Refi Plus loans, and master hazard insurance policies for multiple unaffiliated projects. An updated
version of FAQs for Project Insurance Requirements.
Updated Selling Guide policies including miscellaneous income and documentation requirements, single entity ownership in a
project, 5-year ARMs as Texas Section 50(a)(6) mortgages, the calculation of real estate taxes for housing expense, and the
measurement of various waiting periods.