March 31, 2008
During the weekend of May 31, 2008, Fannie Mae will implement Desktop Underwriter
(DU) Version 7.0. This release will include a number of changes to DU’s credit risk assessment and eligibility requirements. In addition, this release will support the policy changes described in Announcement 08-08 and in Lender Letter 06-07, and will include [...]
Effective Tuesday June 3, 2008, FNMA has expanded the Jumbo-Conforming loans (F500/F501)
Owner Occupied Transactions Only -
1) Added Cash Out Refinances – Max LTV/CLTV/HLTV is 75% (Maximum $100,000 cash back to borrower)
2) Increased Rate and Term – Max LTV is 80%
Additional Eligibility Changes and Clarification
Cash-Out Refinances – Max Cash Out $100,000. The cash back amount [...]
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