We announced upcoming changes to HomeReady income limit policies and Desktop Underwriter that will be effective July 20, 2019.
June updates implement changes related to tax reform legislation, update requirements for acceptable title insurers, simplify Uniform Residential Loan Application (URLA) (Form 1003) requirements, provide guidance on the purchase of certain LIBOR ARM loans, and introduce a new special feature code for delivery of loans with remote notarization.
Lender Letter LL-2019-05 provides guidance on a new policy related to the acquisition of certain LIBOR ARM loans.
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