More about Michelle Peters
Michelle oversees the mortgage information security, vendor management, and pre-funding services, and manages the QC processing department. She received her associate's degree at the New England College of Finance and is a BA candidate at Bentley University.
Blog Posts by Michelle Peters:
-
Fannie Mae Announces Hardest-Hit Fund® Modification Assistance Programs and Updates Disaster Assistance
by: Michelle PetersOn July 1, 2013 Fannie Mae issued Announcement SVC-2013-14: Hardest-Hit Fund® Modification Assistance Programs. This announcement references Lender Letter LL-2012-08 which provides guidance regarding loan modification assistance programs for loans that fall within the Hardest-Hit Fund® guidelines. Within the announcement, servicers are notified that regardless of whether or not principal forbearance is required, […]
-
Fannie Mae Revises Rules for Age of Documents, SS Benefits, Clarifies 4506T and more
by: Michelle Peters On May 28, 2013, Fannie Mae issued Selling Guide updates with Announcement SEL-2013-04. The changes included in this most recent update include miscellaneous income and documentation requirements, single entity ownership within condominium projects, addition of 5-year adjustable program to the Texas Section 50(a)(6) mortgage option, real estate tax calculations as part of […]
-
HUD/FHA Resources for Oklahoma Counties Impacted by Severe Storms and Tornadoes
by: Michelle PetersDue to the severe storms and tornadoes that occurred on May 20, 2013, Cleveland, Lincoln, McClain, Oklahoma, and Pottawatomie counties in Oklahoma were identified as Presidentially Declared Major Disaster Areas. The Federal Housing Administration has issued reminders mortgagees in order to provide assistance to borrowers with FHA-Insured single family mortgages. Mortgagees should refer to […]
-
HUD Issues Rules for Borrower Minimum Investment Funded by Government Entity
by: Michelle Peters On May 10, 2013, HUD issued FHA Single Family Mortgagee Letter ML 2013-14: Mortgagee Letter Minimum Cash Investment and Secondary Financing Requirements – Acceptable Documentation for Funds Provided by Federal, State, or Governments, their Agencies or Instrumentalities (Government Entity). The letter provides standards of required documentation that mortgagees must provide in order […]
-
Fannie Mae Introduces New Policies on Lender Incentives and Flood Insurance
by: Michelle PetersOn January 29, 2013 Fannie Mae announced two new policies. The first new policy is in regards to Lender Incentives for Borrower and the second new policy is in regards to Private Flood Insurance Policies. The scope of this announcement addresses lender inquiries regarding allowable incentives for borrowers to refinance their current mortgage […]
-
Fannie Mae Announces Selling Guide Updates
by: Michelle PetersOn January 17, 2013 Fannie Mae announced Selling Guide updates that will affect the guidelines regarding: Selling Government Mortgage Loans to Fannie Mae, Refunding Borrowers for Overpayment of Fees and Charges, New Principal Curtailment Policy and InterVivos Revocable Trusts. All updates included in the announcement were effective immediately, unless otherwise stated; the announcement was […]
-
Freddie Mac Issues Changes to ARMs and Affordable Home Programs
by: Michelle PetersCommentary regarding Freddie Mac Bulletin Number 2012-21 On October 16, 2012 Freddie Mac released Bulletin number 2012-21 regarding revisions to ARM requirements and provided updates regarding Home Possible Mortgages. The bulletin details ARM rate caps and qualification requirements that will help reduce the risk of payment shock to borrowers at the time of […]
-
Fannie Mae Announces Updates to Refi Plus and DU Refi Plus
by Michelle PetersAssistant Vice President & Office ManagerOn September 14, 2012 Fannie Mae announced updates to the Refi Plus and DU Refi Plus mortgage loan programs. The scope of this announcement details the enhancements that will help lenders accommodate potential borrowers. All updates included in the announcement were effective immediately; the announcement was made in Fannie […]