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June 2017 AQM List Posted
The June 2017 Appraiser Quality Monitoring (AQM) list has been posted on the Appraiser Quality Monitoring page.
EarlyCheck V. 5.3.1 Is on the Way
Several new and modified edits will be implemented during the weekend of Aug. 27, plus updates to ARM LTV Ratios.
Customizable Condo Buyer’s Guide
A customizable Condo Buyer's Guide has been added to the offerings in our Marketing Center. Add your logo and contact information and provide an online or print-ready version to potential condo buyers.
HomeReady Mortgage Income Limits Updates
Effective the weekend of July 8, 2017, updated HomeReady income limits will be implemented in Desktop Underwriter (DU) and in the HomeReady Income Eligibility Lookup tool. Read the Selling Notice for more information.
New Quarterly Compass
Discover Q2 2017 news and timelines related to Fannie Mae technology, policy, training opportunities, and beyond.
Lender Letter LL 2017-02: Credit Report Changes
Effective July 2017, the credit reporting agencies will no longer include most tax liens and civil judgments in credit reports. Read Lender Letter LL-2017-02 for more information.
DU Version 10.1 Brings Simpler, More Certain Underwriting Guidelines
Over the weekend of July 29, we will implement a Desktop Underwriter release that includes an update to the risk assessment and other enhancements.
Key Selling Announcement SEL-2017-05 Updates
For a summary of key updates in this Selling Guide Announcement, view the executive perspectives video presented by Jude Landis, Vice President, Credit Policy, and the executive overview provided by Carlos Perez, Chief Credit Officer for Single Family.
Selling Guide Updates
The following updates were made in May: electronically notarized documents are accepted by Fannie Mae; whole loan ARM commitments now use the gross mortgage margin; over-delivery limits of whole loan commitments cannot exceed 25%; more flexibility for whole loan cash back pair-offs; and copies of mortgage documents are allowable documentation.
Reduced Fee for Streamlined PERS
We have reduced the fee for the Streamlined Project Eligibility Review Service review of established condo projects from $1,000 to $500.
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