#WhackedOutWednesday – HARP ends this year on Dec 31st 2018. However is replaced by a new high loan to value loan. The new HLTV loan very much like the old DU Refi Plus that will end this year. The documentation is limited, PIW’s will be available, LLPA’s will be limited in tiers. IN FACT – Fannie Mae just updated these guidelines yesterday! I had this all planned out on Sunday for today and read them then, now I go back this am and see the updates. They moved the min LTV from 95.01 to 97.01 or higher. Today’s video I go over it!
Wonderful Wednesday is more like it, I can see this loan making impact, especially in areas in the future that may see a decline in housing values. It applies to all conventional notes Oct 1, 2017 or AFTER. And the loan must be seasoned for 15 months. Nice option for your borrowers, and there’s NO min fico, no max dti, and no wait timing on any derogatory events. ↓
Today TXT Juiceman to 33655 and check out the app. You can contact me from it, send me scenarios, price a loan and even #SIGNUP right from there. I’m in the office starting my AUGUST RUSH! As you can see the phones are already lighting up!
#MondaysMotivation – DU 10.2 rolled out over the weekend! Hope you don’t have a file that needs re-run! – All jokes aside, this update was #JUICY! I think there’s some great changes especially to BK rules, and site condo’s. I break down the changes, sorry a little longer today, but also took FOREVER to upload. lol
Change is great to get “on point”! More changes coming and will be helping more in the masses as we go through the year. I am super excited to help those with marketing this week, this is the week I do the #BulkOrder of “done for you” marketing systems for those that want to change their own pipeline. CLICK HERE to get the full scoop!
As always #SellWell
#TwoforTuesday – Some great things are coming with DU updates in the next week it looks like. As Fannie Mae updates the DU programming on March 17th they will be helping DTI’s in the 45-50% across several FICO buckets become more “approve-able”.
Seems FNMA and the programmers understand the behaviors of those getting loans. And there will be more programming to prevent someone with multiple “apps” out there to rig the system. You won’t be able to get an appraisal at one lender and a PIW with another. If the appraisal is registered inside the fannie system, DU will kick out the PIW from the approval it looks like.
Some great updates that actually make sense, there was a couple more and I will recap those as more information becomes available.
Today’s SWWEEEEEETTTT Spot! 600-680 Fico FHA/VA loan is on point. Also 680+ FICO with 80% LTV or more on the homeready program is also stellar pricing right now! Here’s an open link, you want to “compare” me, go right ahead, price your deal out and let me know how I stand —-> Quick Pricer