Archive for 'News'

Upcoming Freddie Mac Servicing Update Effective October 1, 2023 Regarding Payment Deferral and Disaster Payment Deferral

Link to Download

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Freddie Mac 2Q-2023 Selling Guide Highlights

Check out the link to the specifics

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The Federal Housing Finance Agency (FHFA) today announced further changes to Fannie Mae’s and Freddie Mac’s (the Enterprises) single-family pricing framework by introducing redesigned and recalibrated upfront fee matrices for purchase, rate-term refinance, and cash-out refinance loans.

Link to the FHFA’s article and Fannie and Freddie’s bulletins on the this subject

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Strengthen Your QC Program

Fannie Mae Quality Insider Report

This issue of Quality Insider highlights frequently missed components in lenders’ QC plans and offers actionable insight to improve your plan. With this issue we kick off a new series of Quality Insider articles that focus on strengthening governance by identifying the top gaps found in Quality Control programs across our customer base. Fannie Mae’s QC Specialist team created this series through the lens of continuous improvement and with a focus on the most ...

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Uniform Residential Loan Application March 1 Mandate

Automated Underwriting System Messaging

The mandate for implementing the redesigned Uniform Residential Loan Application (URLA) is March 1, 2021. To accommodate loans started in the legacy format prior to March 1, but not submitted by that date, the GSE’s automated underwriting systems (AUSs) will not return an Out of Scope for Fannie Mae or critical edit for Freddie Mac on new loans submitted in the legacy format until May 1, 2021. 

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Quality Control As A Profit Center

Quality Control as a Profit Center
By Charles W. Sewright, CMA
President & CEO
Quest Advisors, Inc.

Many in mortgage lending view Quality Control as a cost center that is simply a cost of doing business. But, when properly implemented and managed, Quality Control can be a profit center. A deep dive into Quality Control can lead to profit improvement opportunities throughout the mortgage manufacturing process if time and effort are spent looking for them.

The goal of every mortgage lender is ...

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