Friday, April 23, 2010

FHA issues Mortgagee Letter 10-13 and 10-15

FHA just issued mortgagee letter 10-15 and 10-13 both are to do with the appraisal and appraisers. Besure you review these two mortgagee leteers

What is happening today in mortgage lending: Shirley Nault has been a mortgage professional for over 20 years. Visit her other mortgage web sites go to: www.naultfhatips.blogspot.com or www.dutips.blogspot.com

Monday, April 19, 2010

FNMA releases 8.0 over the weekend

As a reminder, Fannie Mae will implement the Desktop Underwriter® (DU® ) Version 8.0 April Update the weekend of April 17, 2010. This release will include enhancements to DU Refi Plus™, support of new verifications requirements that are part of the Loan Quality Initiative, and implementation of the HFA Affordable Advantage™ community lending product in DU.

Highlights
• DU Refi Plus™ Enhancements: Updates that relate to borrower eligibility and verification requirements, and that provide added information.
• Updates to Social Security Number and Occupancy Verification Requirements: Some DU Potential Red Flag Messages will change to Verification messages that must be fulfilled before delivering the loan.
• Implementation of HFA Affordable Advantage: DU will now be able to underwrite this community lending product, and will issue a message on all HFA Affordable Advantage loan casefiles reminding lenders that they must have approval to deliver the loans to Fannie Mae. Note: Lenders should contact their state Housing Finance Agency to determine if they are offering HFA Affordable Advantage and to learn more about the product; mortgage brokers should contact their DO sponsoring wholesale lender.
• Miscellaneous Updates and Modified Messages
The Desktop Originator® (DO®)/DU Version 8.0 April Update Release Notes were issued in February 2010. For details, please refer to the DU Release Notes page or DO Release Notes page on eFannieMae.com.
What is happening today in mortgage lending: Shirley Nault has been a mortgage professional for over 20 years. Visit her other mortgage web sites go to: www.naultfhatips.blogspot.com or www.dutips.blogspot.com

Tuesday, April 6, 2010

FNMA Conducts National Housing Survey

FNMA conducts a national housing survey to gage the attitude of borrowers. You may find this interesting
What is happening today in mortgage lending: Shirley Nault has been a mortgage professional for over 20 years. Visit her other mortgage web sites go to: www.naultfhatips.blogspot.com or www.dutips.blogspot.com