![]() Homestyle Renovation loans – Updated requirements to HomeStyle Renovation loans as follows: (1) renovation work must be completed within 15 months from the date the loan is closed and (2) extensions beyond the 15-month timeframe will only be permitted due to the extenuating circumstances beyond the borrower’s control and (3) additional information required in the renovation loan agreement (effective February 2, 2022).Desktop appraisals – Allowing the use of desktop appraisals for certain purchase transactions of one-unit principal residences with LTV ratios less than or equal to 90% (effective March 19, 2022).Fannie Mae and Freddie Mac recently issued updates to their respective selling guides.įannie Mae issued Selling Guide Announcement (SEL-2022-01), which, among other things, includes changes to the following:
0 Comments
Leave a Reply. |