As previously reported, in an Announcement dated May 29, 2015, Freddie Mac has stated that beginning June 1, 2015 the use of Loan Prospector will be free for all new loan submissions. Loan Prospector is Freddie Mac’s automated underwriting system which provides feedback to lenders on loan eligibility as well as minimum documentation requirements for underwriting the loan transaction. Not…
Freddie Mac On May 29, 2015, Freddie Mac has stated that, beginning June 1, 2015, the use of Loan Prospector will be free for all new loan submissions. Loan Prospector is Freddie Mac’s automated underwriting system which provides feedback to lenders on loan eligibility as well as minimum documentation requirements for underwriting the loan transaction. Fannie Mae Fannie Mae rolled…
In an official notice to all FHA-Approved Mortgagees, FHA announced on April 30, 2015 that it has extended the effective date for the policies contained within its new Single Family Policy 4000.1 Handbook from June 15, 2015 until September 14, 2015. These new underwriting, appraisal and Quality Control policies have been the focus of several of my previous Blogs and…
Fannie Mae’s Appraisal Findings Report – Another Compliance Management Tool for Lenders! In an announcement dated March 10, 2015, Fannie Mae has indicated that they will be generating an Appraisal Findings Report designed to capture Collateral Underwriter (CU) feedback beginning sometime in April 2015. As many lenders are now aware, Fannie Mae rolled out its free proprietary CU appraisal risk…
