Qualifying for a mortgage will be easier when Fannie Mae increases its back end (total monthly debt) debt-to-income ratios from 45% to 50% on July 29th 2017. More qualified borrowers on the edge of getting a loan (e.g., first-time home buyers, moderate-income borrowers carrying more debt) could potentially qualify for a higher loan amount.
The requirements that apply to document custodians are also more fully described in Fannie Mae’s Requirements for Document Custodians (RDC) on our website, or in the Master Custodial Agreements (Forms 2003 or 2010).
Advertiser Disclosure. Articles, Mortgage It’s Now Easier for Millions of Student Loan Borrowers to Get a Mortgage. Monday, July 31, 2017. Editorial Note: The content of this article is based on the author’s opinions and recommendations alone.
· Here are 4 homebuying tips for tech-savvy millennials. Tip #1: 2017 Mortgage Changes Make It Easier to Qualify, So Consult a Mortgage Broker. Fannie Mae has made two significant changes that can help millennial homebuyers qualify for a mortgage. So, if you have not consulted a mortgage broker to see if you qualify for a mortgage since July 29.
July 10, 2017 Fannie Mae will ease its loan qualification requirements, raising its debt-to-income ceiling from 45 percent to 50 percent on July 29. The move could make it easier for a larger number of new buyers to qualify for a mortgage, particularly millennials who may be burdened with student loan debt.
Another ground breaking fannie mae change is new foreclosure guidelines for conventional loans with prior mortgage part of bankruptcy .. With the new FNMA Guidelines, there is a four year waiting period after a Chapter 7 Bankruptcy discharged date to qualify for a Conventional Loan if borrowers had mortgage included in Chapter 7 Bankruptcy
Mortgage Broker Boca Raton | Mortgage Lender Boca Raton Podolsky, 94, died of natural causes July 18 in Boca Raton, Fla., said his son. said Podolsky encouraged him to extend himself beyond being a mortgage broker into being "a well-rounded real estate.
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· Easier Qualifying for Borrowers with Student Loan Debt Due to a recent decision by Fannie Mae, getting approved for a mortgage when you have student loan debt will be a lot less difficult. Fannie Mae recently announced a few new changes that will help borrowers with student loan debt be eligible for mortgage financing.
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The Fannie mae servicing guide has been updated to simplify servicing and make it easier to do business. Members and other mortgage participants. The company is on target to provide the web-based.
PennyMac is aligning with the updates announced in Fannie Mae Announcement 2017-06. This announcement includes various topics such as employment offers or contracts, student loan updates, alimony.