More about anna.desimone@claconnect.com
Blog Posts by anna.desimone@claconnect.com:
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Fannie Mae Updates Appraisal Underwriting Rules
February 4, 2015, Fannie Mae published Lender Letter LL-2015-02: Appraisal Tools, Processes and Policies. The purpose of the Lender Letter is to provide clarifications and additional information regarding Fannie Mae’s valuation-related tools and policy updates announced within the past 12 to 18 months. These include Collateral Underwriter™ (CU™), Appraiser Quality Monitoring (AQM), and updates to […]
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Fannie Mae Clarifies and Updates Underwriting Guidelines
by Sarah Lagattolla Director of Credit Risk sarah@bankersadvisory.com Fannie Mae Mae has just issued an update to the Selling Guide (SEL-2011-04) that affects underwriting of loans as follows: Deferred Student Loans While it has been Fannie Mae’s policy to include payments for deferred student loans in the DTI, Fannie Mae has required verification of the […]
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Understanding Higher-Priced Mortgage Loans (HPML) and Average Prime Offer Rate (APOR)
As of October 1st, all mortgage lenders must be fully compliant with the Truth in Lending amendment regarding Higher-Priced Mortgage Loans. Summarized below are the sources for finding the current APOR index, how to perform the computation and other steps for compliance. Higher-Priced Mortgage Loans (HPML) and the Average Prime Offer Rate (APOR) The recent […]