FNMA and FHLMC Product Updates
There have been some guideline updates to our FNMA and FHLMC products!
COVID-19 Guidance Update
We have made temporary guideline updates due to current market conditions. The changes apply to all loans underwritten and changes will take effect for any loan submitted into Underwriting November 1st and later.
Lock Desk Closed for Labor Day
The Lock Desk will be closed Monday, September 7th, 2020 for Labor Day and will resume normal hours on Tuesday, September 8th.
FEMA Disaster Declaration – Louisiana Hurricane Laura Update
The Federal Emergency Management Agency (FEMA) has issued a major disaster declaration for the State of Louisiana due to Hurricane Laura.
FEMA Disaster Declaration – Louisiana Hurricane Laura
The Federal Emergency Management Agency (FEMA) has issued a major disaster declaration for the State of Louisiana due to Hurricane Laura.
Market Update, Friday August 28, 2020
Stocks opened higher, following the Fed’s new inflation approach as spending and inflation rose in July, indicating a pickup in consumer activity. The S&P 500 is on track for its biggest weekly gain in nearly two months after another record close on Thursday.
Market Update, Thursday August 27, 2020
Stocks opened mixed after Chairman Powell reiterated that the Federal Reserve will not preemptively lift interest rates to head off higher inflation. The S&P edged higher, extending Wednesday’s rally that pushed the index to another record close.
FEMA Disaster Declaration – California Wildfires
The Federal Emergency Agency (FEMA) has issued a major disaster declaration for the State of California due to wildfires.
Market Update, Wednesday August 26, 2020
Stocks opened mixed following the S&P 500 hitting a record high for a fourth straight trading session. Investors are anticipating Fed Chairman Powell’s speech from the Jackson Hole Economic Policy Symposium on Thursday for fresh clues on the health of the economy and potential monetary policy changes.
Non-QM RMBS Issuers to Lenders: More loans, please
Non-QM lenders have been dropping interest rates rapidly this month as they seek an edge in meeting the demands of aggregators and bond investors, according to four lenders.