News
FHA Reduces Annual MIP
The Federal Housing Administration (FHA) has announced that it is reducing its annual Mortgage Insurance Premium (annual MIP) rates for...
Fannie Mae and Freddie Mac Loan Limit Update
The Federal Housing Finance Agency (FHFA) has established the 2017 maximum loan limits that will apply to conventional loans to be acqu...
FHA Loan Limit Update
The FHA has updated their loan limits effective for case numbers assigned on or after January 1, 2017. Mortgagee Letter 2016-20 explain...
VA Loan Limit Update
The VA has updated their loan limits effective for loans closed on or after January 1, 2017. VA Circular 26-16-36 explains the changes ...
FNMA Eliminates Continuity of Obligation Rule
Effective Date
This policy change is effective immediately.
The continuity of obligation policy is being eliminated in its entirety. Th...
Property Taxes in Unlimited Tolerance Category per CFPB not subject to cure
On February 10, 2016, the Consumer Financial Protection Bureau (CFPB) published a correction in the Federal Register which clarifies Pr...
Changes After the Closing Disclosure Is Issued
Sometimes loan terms or fees change before closing, but after the lender has provided the Closing Disclosure (CD) to the borrower. Lend...
Flood Insurance Escrow Required January 1
Earlier this year the federal financial regulatory agencies issued a revised flood insurance rule. According to the revised rule, if fl...
Service Provider List for TRID transactions
Please be aware that under the new Truth in Lending/RESPA Integrated Disclosure rule (TRID) it may be necessary to revise your service ...
VA Revises Stacking Order and Addresses Closing Disclosure (CD)
The Department of Veterans Affairs (VA) has announced Closing Disclosure statement requirements, and a new mandatory stacking order for...
