Mondays Motivation – DU 10.3 & Loan Amounts!

#MondaysMotivation – DU 10.3 is here! And Fannie Mae says “expect this change to yield a slight reduction in case files that receive approve/eligible findings”!  Risk is being analyzed and DU is getting smarter! If your DTI is over 45, I’d suggest you have reserves in there prior to running it.  Loan amounts were updated for FHA to follow suit of the conforming loan limit changes;

Conforming limits; 484,350 and High balance 726,525!  FHA’s limits follow suit typically at 65% of the conforming limits, and that is; 314,827 and high balance 726,525 depending on county.

There was another great reference I want to mention in these changes on Friday last week, and that is FORM 1084! A self employed borrower income worksheet Fannie Mae has approved to working income calculations off of.  I uploaded that form into the group, Sales Talk with Mortgage Pro’s! Feel free to check out the #Files tab to see all the cool cheats I have uploaded for you LO’s.

As always’ Let’s go – It’s Mondays Motivation – The Tragedy of Life doesn’t lie in NOT reaching your goal!  The tragedy lies in having no goals to reach! I’m doing strategy sessions with new mortgage broker relationships to help create campaigns with Niche products!  If you’re interested in creating goals and crushing them in 2019, let’s chat, CLICK HERE!

#SellWell

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s