Martin Luther King Jr. Day Lock Desk Closed
The Lock Desk will be closed Monday, January 18th 2021 in honor of Martin Luther King Jr. Day and there will be no rate sheet published. We will resume normal hours on Tuesday, January 19th.
FEMA Disaster Declaration for Louisiana Hurricane Zeta
The Federal Emergency Management Agency (FEMA) has issued a major disaster declaration for the State of Louisiana due to Hurricane Zeta.
FNMA Product Update
There have been recent guideline changes pertaining to Assets and Pro-rated tax credit.
FEMA Louisiana Hurricane Delta Update
The Federal Emergency Management Agency (FEMA) has issued a major disaster declaration for the State of Louisiana due to Hurricane Delta. On November 6, 2020, with Amendment No. 1, FEMA granted five additional Louisiana Parishes affected by Hurricane Delta. FEMA has expanded the Hurricane Delta disaster declaration to include 2 additional counties: Allen and Iberia.
Lock Desk Holiday Hours
The Lock Desk will be closed Friday, December 25th, 2020 and Friday, January 1st, 2021, and no rate sheet will be published. On Thursday, December 24th, 2020 and Thursday, December 31st, 2020 LoanStream will be open, with the Lock Desk closing at 11am PST. We will resume normal business hours on Monday, December 28th, 2020 and Monday, January 4th, 2021.
COVID-19 Guideline Update
We have updated our employment re-verification process due to COVID-19. Clarified paystubs/WVOE must be within 30 days at closing. FNMA now requires 3 months business bank statements when utilizing an unaudited P&L.
FHA 2021 Maximum Loan Limits
The Federal Housing Financing Agency (FHFA) recently updated the conforming loan amount limits for all counties in the United States. The new loan limits are effective for case numbers assigned on or after January 1, 2021.
FHLMC Product Updates
FHLMC has lowered the maximum LTV on 2-4 unit properties from 95% to 85% for their Home Possible Program. FHLMC has also updated their solar guidelines.
Huge Pricing Improvement on Government Loans
Leading Pricing on LoanSifter with a Huge Pricing Improvement: 100 bps on all Government Loans.
Winter Loan Special
Don’t miss out on our Winter Loan Special! We are offering 25 BPS off all Purchase Loans, 30 BPS off all FNMA/FHLMC and more!