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Key Selling Announcement SEL-2017-07 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 August: Lenders are required to use Form 3749 when assigning loans to MERS in Maine, effective Jan. 1, 2018; topics in Selling Guide Part A were updated and duplicative content was removed from Servicing Guide; credit report requirements now align with industry standard reporting.
Key Selling Announcement SEL-2017-06 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
July updates: Policies to align with DU version 10.1 including max DTI ratio of 50%, max LTV for ARMs up to 95%, and simplified process for disputed tradelines; loan eligibility for borrowers with employment offers/contracts; flexibility for borrowers with student loans, mortgages paid by others, alimony obligations, and timeshare accounts; document custody requirements streamlined; and changes to seller/servicer fidelity bond and omissions insurance requirements, effective Oct. 1, 2018.
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.
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.
Selling Guide Updates
The following updates were made in April: new solutions for borrowers with student loan debt; project review waivers for certain Fannie Mae to Fannie Mae limited cash-out refinances; simplification of some cash-out refinance policies; and more.
Key Selling Announcement SEL-2017-04 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.
Key Selling Announcement SEL-2017-03 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/or the executive overview provided by Carlos Perez, Chief Credit Officer for Single Family.
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