13
OCT
2015
Federal-Registry-Daily-Journal-United-States-Government

Proposed Changes in HUD’s Real Estate Owned (REO) Policies

On October 2, 2015, HUD published a Proposed Rule in the Federal Register that would implement some rather substantial changes in the way the Department manages and markets its REO inventory. If your Firm is involved, in any way, with the sale or financing of HUD REO properties –...
09
OCT
2015
Fannie-Mae-selling-guide-Announcement-SEL-2015-10

Fannie Mae – Expanding Home Buying Opportunities at Both Ends of the Spectrum!

Fannie Mae recently issued Selling Guide Announcement SEL-2015-10, dated September 29, 2015, which outlines some policy and programmatic changes for Lenders awareness. Fannie Mae’s Selling Guide has already been updated to include these changes which involve a product for...
06
OCT
2015
HUD-FHA

FHA Quality Control Update Webinar Highlights

Justin Burch of HUD’s, Office of Lender Activities and Program Compliance, was the Presenter on HUD/FHA’s Quality Control Update Webinar which covered a variety of topics.  Outlined below are some of the major topics discussed: HUD expects to insure a little more than 1 million...
02
OCT
2015
Freddie-Mac-Policy-Changes

Freddie Mac Underwriting Policy Changes

September & October 2015 will go down as an important period of time for the implementation of many substantial credit and compliance policy & procedural changes for the mortgage lending industry. Many of our past LoanLogics Blogs have focused on the roll-out of...
23
SEP
2015
4000.1-Handbook-Live

Impact of FHA Handbook Policy Changes

If you have been reading our LoanLogics Blogs and Newsletters as well as other industry publications, you are aware of the fact that the policies outlined in FHA’s 4000.1 Handbook (for the most part) became effective on September 14, 2015. This 800+ page Handbook will...
18
SEP
2015
System-Upgrades-Word-Cloud

In Case You Missed Some Important Systems/Reports Upgrades

Recently, lenders have had some good news relative to some system upgrades which will enhance their reliance on tracking reports that are essential for the overall monitoring of loan performance. In August, Fannie Mae announced that their Reps and Warrants Tracking Reports have...
10
SEP
2015
4000.1-Handbook-Changes

The Times – They are a Changing!

In August, HUD has announced even more policy & procedural changes that will be established upon implementation of their 4000.1 Handbook.  The good news is that most of the proposed changes outlined in this Notice will have an effective date of March 14, 2016 instead of the...
04
SEP
2015
Beware-False-Claims-HUD-92900-A

Lenders Beware of False Claims and Certifications!

Are you aware of what you are certifying to on an FHA loan transaction?  Are you aware of the False Claims Act? Read on! The False Claims Act is the federal government’s primary tool in combating fraud against the government.  With respect to some recent cases involving...
26
AUG
2015
Fannie-Mae-HUD-FHA-System-Upgrades

Important Fannie Mae & FHA/HUD Systems/Reports Upgrades

Within the past three weeks, lenders have had some good news relative to some system upgrades which will enhance their reliance on tracking reports that are essential for the overall monitoring of loan performance. On August 11, 2015, Fannie Mae announced that their Reps and...
17
AUG
2015
4000.1 Handbook Revisions

Important Revisions to HUD Handbook that should benefit Lenders!

HUD/FHA published revisions to its draft 4000.1 Handbook on August 14, 2015 that should benefit lenders! If you have been reading the Blog Posts and Newsletters being generated by LoanLogics in the past few months – you are aware of the many underwriting policy changes being...