Announcement: Disaster Declaration for Michigan
On July 9, 2020, the Federal Emergency Management Agency (FEMA) has announced that federal disaster aid with individual has been made available in the state of Michigan period of May 16th-20th.
Announcement: Tax Return Filing Deadline
The last day to file 2019 Tax Returns is July 15th. Any loan that is not cleared to close by July 10th requires 2019 Tax Returns for qualifying purposes
Announcement: Now Lending in Hawaii
LoanStream will now be lending in the great state of Hawaii.
Announcement: July 4th Lock Desk Hours
LoanStream’s Lock Desk hours will be adjusted for the dates of July 2nd through July 4th due to Independence Day. Normal lock desk operations and hours will resume Monday, July 6th
Announcement: FNMA & HomeReady Product Guideline Updates
FNMA has recently made guideline changes to FNMA and HomeReady Products.
Announcement: Eliminating WVOE Only Program
Effective for new loans submitted by brokers (TPO submitted date) on or after June 16th, we will no longer be accepting any loan under any program with an WVOE only.
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.