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.
FEMA Disaster Declaration – California Wildfires
The Federal Emergency Agency (FEMA) has issued a major disaster declaration for the State of California due to wildfires.
Announcement: Requirements to Validate Self-Employed Income during COVID-19
During COVID-19, our guidelines to validate Self Employed Income have changed, in order to provide options in case the borrower’s transcripts cannot be obtained. We still require VVOE and 3rd party verification for all Self Employed Borrowers.
Announcement: Revision to 7/28 COVID-19 Temporary Guidelines
Due to current market conditions, temporary changes to our employment re-verification process are necessary to manage risk.
Announcement: COVID-19 Temporary Guidance
Due to current market conditions, temporary changes to our employment re-verification process are necessary to manage risk.
Announcement: Disaster Declaration for Utah
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 Utah period of March 18th-April 17th, 2020.