fannie mae guidelines: Fannie Mae Guideline Changes - Seasoning on Mortgage in Bankruptcy - 07/30/14 03:32 AM
Fannie Mae Guideline Changes - Seasoning on Mortgage in Bankruptcy
 
 
 
     In a rare event of loosening guidelines, Fannie Mae has issued guidance on changes that will have a positive impact on people who have had a mortgage included in a bankruptcy. 
 
 
     In the past, if a mortgage was included in bankruptcy and a lender proceeded to foreclosure to recoup their losses, borrowers were held to foreclosure seasoning guidelines, meaning they could not obtain a new conventional loan until 7 years after the foreclosure event. 
 
 
     Under the new guidance, effective … (23 comments)

fannie mae guidelines: Fannie Mae post-shortsale guidelines changing - 07/07/14 06:44 AM
Fannie Mae post-shortsale guidelines changing
 
 
     With the updated release of Desktop Underwriter (DU)  to version 9.1, Fannie Mae has implemented some changes to  the automated underwriting system, which should be followed by changes to their selling guide, and therefore the guidelines of every lender in the industry that underwrites conventional loans.
 
 
 
The pertinent changes are:
 
Foreclosure with less than 7 years seasoning (good news)
 
     If a borrower has had a foreclosure withing the previous 7 years from the date of application, it will now be possible to receive an approval through automated … (7 comments)

fannie mae guidelines: What is "Fannie direct" & why your lender should be - 11/03/13 04:48 AM
 
What is "Fannie direct" (and why your lender should be)
 
     It's hard to keep up with all of the mortgage industry jargon, especially when one phrase can mean so many different things.  The latest phrase I've gotten many questions on is the"Fannie direct" loan option.  This is an important one to be aware of for both consumers and anyone else in the real estate industry, and could be the difference between getting a loan or getting declined.
 
     Fannie direct simply means a lender sends their loans straight to Fannie Mae, and not to an intermediary servicer.  When most conventional mortgage transactions … (27 comments)

 
John Meussner, #MortgageMadeEasy Fair Oaks, CA 484-680-4852 (Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI)

John Meussner

#MortgageMadeEasy Fair Oaks, CA 484-680-4852

Fair Oaks, CA

More about me…

Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI

Address: 23441 S Pointe Dr, Ste 110, Laguna Hills, CA, 92653

Office: (949) 247-7530

Mobile: (484) 680-4852



Listings

Links

Archives

RSS 2.0 Feed for this blog