News

Changes To Rental Income Policy Effective Dec. 7, 2019

August 26, 2020

Fannie Mae is implementing new requirements for determining when rental income can be used for qualifying purposes. These changes are intended to support sustainable home ownership for borrowers purchasing an investment property without a prior history of managing rental properties….

CFPB Letter Signals Changes To QM Rule

August 26, 2020

QM Standard Changes Incoming! On Friday, Consumer Financial Protection Bureau Director Kathy Kraninger sent a letter to Congress outlining the Bureau’s plan for a revised Qualified Mortgage Standard. The Bureau is currently in the middle of a rulemaking process to…

More Construction Helps New-home Mortgage Applications Take A Leap

August 26, 2020

New Constructions, New Applications Loan applications to purchase new constructions rose over one-third annually during December as new residential construction recovered, according to the Mortgage Bankers Association. Consumers looking to take out a mortgage secured by a new home increased…

Loan Limits Are Higher For 2020

August 26, 2020

With the calendar now officially flipped to 2020, Fannie Mae, Freddie Mac, and the Federal Housing Administration are now backing larger mortgages than they were just a few days ago. That’s because the 2020 loan limits for each of those agencies are now in…

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