Fannie/Freddie Changes Run the Gamut, Including Shutdown Underwriting Shift

“Some people are so poor, all they have is money.” How about “26 of the World’s Richest Own the Same Wealth as Poorest Half” in the world!? To the best of my knowledge the PUGS (partial U.S. government shutdown) is not helping anyone’s wealth and is impacting U.S. citizens. Freddie and Fannie released policy and procedure updates caused by the shutdown – more below.

Lender Products and Services

What’s the mortgage version of “having your cake and eating it too”? Well, thanks to United Wholesale Mortgage, it means having access to superb service, technology, partnership tools…AND price! UWM has dropped its rates across the board for conventional, government and jumbo products. It gives the nation’s No. 1 wholesale lender unequaled pricing in the country, to go along with everything else that makes it the most popular wholesale lender among mortgage brokers. UWM has removed all state adjustments and all Loan Level Pricing Adjustments (LLPA) overlays, as well. Now, not only will mortgage brokers enjoy the fastest and easiest experience by working with UWM, they’ll also get their customers unmatched best rates. To learn more, visit www.UWM.com/have-it-all.

Floify just launched a new integration with Day 1 Certainty-approved asset verification provider, Plaid. This major partnership supplies Floify’s LO users with another popular VOA service to automatically pull reports of assets and deposits for prospective borrowers and sync with their respective loan files, which helps reduce loan processing times and eliminate fraud, and allows LOs to originate with confidence. Additionally, Plaid-generated VOA reports can be configured to sync with Floify when a loan application is converted to a live loan or on a one-off basis directly from within a loan flow. Floify’s Plaid integration is being offered as an alternative to their existing VOA integrations with AccountChek™ and MeridianLink. To see Floify’s new Plaid integration in action, request a live demo.  read more…

Article From: "Rob Chrisman"   Read full article

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