Fannie Mae has published the Quality Control Calibrations Frequently Asked Questions to address some of the question lenders may have about the QC Calibration process.
This topic consolidates all announcements, newsletters, bulletins, handbook/guide updates, and general news coming from FHFA, Fannie Mae, FHA, Freddie Mac, GNMA, RHS, and VA.
Fannie Mae has published the Quality Control Calibrations Frequently Asked Questions to address some of the question lenders may have about the QC Calibration process.
Fannie Mae announced updates to Desktop Underwriter (DU) Version 11.0 effective the weekend of August 20, 2022, including changes to RefiNow™ messages, housing goals messages, DU address standardization, and other updates to align with the Selling Guide.
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Freddie, FHA, VA, and USDA.
The USDA has released the interest rate increase effective July 1, 2022.
This newsletter issue touches on some of the ways Fannie Mae partners with the appraiser profession to ensure that appraisals comply with policies.
In an effort by Fannie Mae to highlight opportunities to strengthen QC programs, beginning in Q4 2022, they will conduct QC calibrations on a regular basis across lenders as a component of a lender’s overall QC program assessment selected using a risk-based approach that considers a lender’s existing controls and Fannie Mae delivery volume.
On June 21, 2022, Fannie Mae released the Condo Project Manager enhancement guide, which provides access to this year’s previous, current, and upcoming CPM updates in an easy-to-read format all in one document.
Fannie Mae announced the Area Median Income 2022 would be implemented in Desktop Underwriter® (DU®) and published on their website for use with manually underwritten loans effective June 24, 2022.
On June 21, 2022, Fannie Mae published its Disaster Response Network Frequently Asked Questions to support housing stability and augment the efforts of mortgage servicers helping homeowners impacted by a natural disaster or other crises.
Beginning June 20, 2022, the Ginnie Mae Digital Collateral Program will be open to new applicants.
VA is authorizing a local variance that Veterans may be charged wood destroying pest inspection fees, where required by the NOV and can also pay for any repairs required to ensure compliance with MPRs.
DS News--Eric C. Peck
GNMA guaranteed more than $49 billion in mortgage-backed securities last month and the agency also extended two separate COVID temporary measures related to delinquency thresholds and audit policy as per Ginnie Mae APM 22-05 and Ginnie Mae APM 22-06.
This June edition of Freddie Mac Lender News includes information on the equitable housing plan. expanded accessory dwelling unit policy, new AMI values, optimized manufactured housing lending and more.
Ginnie Mae has announced due to the continuing impact of the COVID-19 Pandemic National Emergency on forbearance levels and delinquency rates, Ginnie Mae is continuing the exemptions originally introduced in APM 20-06: “Treatment of Mortgage Delinquency Ratios for Issuers Affected by COVID-19", and in APM 21-04: “Extension of Temporary Relief from the Acceptable Delinquency Threshold requirement,” from July 31, 2022, through January 31, 2023.
In APM 22-06, Ginnie Mae announced the extension of the use of alternative audit procedures originally announced in APM 20-14: “Alternative Procedures Permitted for Certain Aspects of Issuer Annual Audit Report for Fiscal Year 2020” and extended in the APM 21-08: “Extension of Permitting Alternative Procedures for Certain Aspects Issuer Annual Audit Report.”