Fannie Mae issued an update to Lender Letter LL-2024-01 to extend the $2,500 loan-level price adjustment (LLPA) credit for one additional year and to add
Fannie Mae updated the area median incomes (AMIs) used to determine a borrower’s eligibility for HomeReady mortgage loans and RefiNow transactions. The 2022 AMIs will
Fannie Mae issued Lender Letter LL-2019-06, amending income eligibility requirements for HomeReady loans. Per the Lender Letter, to be eligible for a HomeReady loan, a
Fannie Mae updated the area median incomes used to determine a borrower’s eligibility for HomeReady mortgage loans. The 2018 HomeReady income limits will be available
Fannie Mae issued Selling Guide Announcement SEL-2016-05 (Announcement). The Announcement updates the HomeReady mortgage loan product. The updates: allow an occupant borrower of a HomeReady
Fannie Mae updated the area median incomes used to determine a borrower’s eligibility for HomeReady mortgage loans. The 2016 HomeReady income limits will be available
Fannie Mae issued Selling Guide Announcement SEL-2016-05 (Announcement). The Announcement: updates the Selling Guide to simplify the way income limits are applied for HomeReady; updates
FHA issued a waiver regarding early payment default review requirements for properties impacted by the California wildfires. FHA currently requires lenders to select all early
Tennessee passed a bill increasing the permissible interest rate for closed-end loans under the Industrial Loan and Thrift Companies Act (ILTCA). Under the bill, the
Utah passed a bill amending the Residential Mortgage Practices and Licensing Act (RMPLA) with respect to the use of prescreened trigger lead information. Under the
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