Announcement: 680 Restriction for Georgia Removed for FHA Loan Programs
The state of Georgia no longer has a restriction to have a minimum credit score of 680.
Announcement: Update to Re-verification of Employment Process
Due to current market conditions, changes to our Employment re-verification process are necessary to manage risk. The changes below are effective immediately and apply to all Agency and Government Loans that have not closed.
Announcement: FNMA & FHLMC Self-Employed Borrowers
Both FNMA and FHLMC have added guidance for self-employed borrowers to ensure their business cash flow has not been negatively affected by COVID.
Announcement: EZQual Service Changing to EZCalc Service
EZCalc is a quick and easy way LoanStream can help you spend more time closing loans and less time calculating your borrower’s income.
Announcement: Guidance Loans in Forbearance – Conventional
Borrowers who are currently or have been in Forbearance are acceptable with the following restrictions. Borrower(s) must be current on all mortgages for all properties owned through the month of closing.
Announcement: Borrower Guide to eDisclosures
LoanStream has now made signing eDisclosures easier for borrowers with our Electronic Document Delivery Instructions.
Announcement: Verification of Employment
Effective immediately, on all existing and new loans, we will no longer allow a WVOE as the only form of income documentation from Veri-Tax.
Announcement: Lock Desk Hours – Memorial Weekend
The LoanStream Mortgage Lock Desk will be closed at 10am on Friday, May 22nd and closed on Monday, May 25th.
Announcement: Important Disclosure Information for Brokers
LoanStream has important information to share with brokers regarding the disclosure process and e-disclosures.
Announcement: FHA/USDA/VA Appraisal Relief
Per recently announced guideline updates from HUD and VA, the following appraisal relief applies to all FHA/VA & USDA loans, unless otherwise notated, that close on or before June 30, 2020.