The announcement includes updates, clarifications, and simplifications relating to borrower income, assets, and employment;
and other selling policies and lender requirements.
Key Selling Guide Updates June 2015
New this month: Carlos Perez, Chief Credit Officer for Single Family, provides an executive summary of key selling policy
updates in the June 30 Selling Guide announcement.
The 2015 AMIs have been published on Fannie Mae’s website and will be implemented in Desktop Underwriter® the weekend of August
Desktop Underwriter Version 9.2 August Update Release Notes
Describes updates to DU scheduled for the weekend of Aug. 15, 2015, including implementing an affordable LTV ratio determination,
HFA message updates, 2015 Area Median Incomes, a data entry validation update, and other message updates.
New Quarterly Compass Newsletter
The June 19 edition of the Compass highlights Pricing & Execution - Whole Loan, the new Loan Delivery application, an August
update to Desktop Underwriter Version 9.2, and Collateral Underwriter. See page 2 for an at-a-glance technology/policy 2015
The update includes removal of the requirement that revolving account be closed at or prior to closing in order to exclude
the payment from the DTI ratio; extension of DU Refi Plus & Refi Plus; updates to information about the Affidavit of Affixture
for manufactured housing loans; clarification of CLTV & HCLTV ratio requirements for project reviews for FL condos; replacement
of references to “eCommitting”, “eCommitONE”, “National Underwriting Center” & “NUC”; and other misc. updates and changes.