Fannie Mae Eliminates Restructured Loan Policy

first_img Demand Propels Home Prices Upward 2 days ago  Print This Post Related Articles Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Fannie Mae Eliminates Restructured Loan Policy Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Fannie Mae Mortgage Servicers Restructured Loan Policy 2016-07-05 Brian Honea in Daily Dose, Featured, News, Secondary Market Servicers Navigate the Post-Pandemic World 2 days ago July 5, 2016 5,455 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Previous: Banks Bracing for Q2 Earnings Releases Next: More Modifications Focusing on Sustainability Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Fannie Mae Eliminates Restructured Loan Policy Fannie Mae has announced it is eliminating its restructured loan policy, which was originally introduced in September 2008 in response to the uncertainty of how restructured loans would perform after the financial crisis, according to Fannie Mae’s most recent Selling Guide update.The elimination of the restructured loan policy allows lenders to rely on existing policy when determining whether or not a restructured loan is eligible for delivery under a refinance transaction or a modified mortgage loan, according to Fannie Mae.“Eliminating this policy provides greater access to mortgage credit by enabling borrowers to refinance with more favorable rates and terms and streamline lender processes by removing requirements that required manual steps,” Fannie Mae stated in the update.The policy was introduced the same month that Fannie Mae and Freddie Mac were taken in to conservatorship by the Federal Housing Finance Agency (FHFA) amid uncertainty of the performance of restructured loans. The policy was updated to allow a restructured mortgage to subsequently be refinanced after the government established programs such as the Hardest Hit Fund to provide principal forgiveness relief to underwater borrowers.“In an effort to simply our eligibility guidelines and support the housing market, we are eliminating our policy on restructured mortgages,” Fannie Mae stated in the update.Fannie Mae also announced its first change to its HomeReady product, incorporating features enabling lenders to expand credit access in a “safe and responsible manner.” Fannie Mae stated that a number of product enhancements are planned this year as a result of continued assessments of HomeReady.The first change to HomeReady involves simplifying the way income limits are applied by establishing a single area median income limit of 100 percent (the previous limit was 80 percent or 100 percent, depending on where the property was located). The change will be implemented in Fannie Mae’s Desktop Underwriter the week of July 16, 2016; for manually underwritten loans, the policy is effective for loans with application dates on or after July 16, 2016.Click here to view the complete Selling Guide updates. The Best Markets For Residential Property Investors 2 days ago About Author: Brian Honea Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Fannie Mae Mortgage Servicers Restructured Loan Policy Subscribelast_img read more

Outdoor food market on the way for Donegal Town!

first_img Arranmore progress and potential flagged as population grows Twitter An outdoor food market is to be established in the heart of Donegal Town.€25,000 in funding has been awarded for the project under the Town and Village Renewal Scheme.The market will run weekly, allowing local food producers to showcase their products.Chair of the Donegal MD Cllr Michael Naughton says the move will hopefully encourage more people to come and shop in the town:Audio Playerhttps://www.highlandradio.com/wp-content/uploads/2020/09/nasdfdfgdfgughton.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume.The closing date for applications under the third (final) round of the Accelerated Measure was 28th August 2020. These applications are currently being assessed by Department officials. WhatsApp Pinterest Previous articleDonegal Senator calls for equal access for all when pubs reopenNext articleBus Eireann clarify details on Donegal school transport News Highland Nine til Noon Show – Listen back to Monday’s Programme Pinterest By News Highland – September 11, 2020 RELATED ARTICLESMORE FROM AUTHOR AudioHomepage BannerNews Twittercenter_img Outdoor food market on the way for Donegal Town! Facebook Facebook Google+ DL Debate – 24/05/21 News, Sport and Obituaries on Monday May 24th Loganair’s new Derry – Liverpool air service takes off from CODA WhatsApp Important message for people attending LUH’s INR clinic Google+last_img read more

Local Dentists Get a Little Goofy at the 14th Annual Dental…

first_imgFacebook307Tweet0Pin0 Submitted by Dr. Jared PersingerThe Union Gospel Mission’s 14th Annual Dental Benefit show will be held October 17 at 7:00 p.m. Photo Credit: Krina AllisonYou have probably heard about dentists going abroad on a dental mission trip, usually extracting teeth in a poor country. But did you know that your local dentists and the Olympia Union Gospel Mission run a no-fee dental clinic right here, serving thousands of Thurston County residents annually?And did you know that even with some items donated and all of the dentist and hygienist time volunteered, it still costs $130,000 each year to run a dental clinic that serves so many people?Well now you do. And since your heart aches when others suffer and you wish there was some way to help directly, locally, and effectively, your wish has come true.Be our guest and support the 14th Annual Dental Benefit Show being held at 7:00 p.m. on October 17 at the classy Washington Center for the Performing Arts. An entertaining way to go out downtown or get out with the family, our show is always fun for all ages.This year’s theme is A Salute to Disney, featuring songs that speak to the inner child in all of us, from the nostalgia of “Supercalifragilisticexpialidocious” to that song from Frozen (you know the one I’m talking about).Local dentists and hygienists take the stage to raise funds for the Olympia Union Gospel Mission’s Free Dental Clinc.The 16-piece Olympia Jazz Senators tie together this spectacular of singing and dancing, starring local dentists, ringer singers with refined talent (including a Miss Washington), and the exhilarating Debbie’s Dance, whose big number last year was so spectacular that my face hurt from smiling.If you have ever wanted to see your dentist in an uncomfortable position instead of yourself, now is your chance. Tickets cost $10 to $25 and can be purchased by visiting www.Olytix.org or calling the box office at 360-753-8586. Please help make this a sell-out event so the Mission can offer the best year of services yet.Donations* are very thankfully accepted the night of the show, but can also be made online anytime at www.OUGM.org. And best of all, your giving power is doubled either way thanks to an anonymous local donor matching you dollar for dollar. (Please designate the Benefit Show at checkout if online.)Join the fun and raise money for this valuable, local resource.So next time you’re leaning back in the dental chair with any of this year’s singing dentists: Greg Psaltis, Venn Peterson, Steve Russell, Jim Hutchinson, Suneet Bath, Steve Kern, Kyle Winters, David Goerig and myself, Jared Persinger — or any one of the 75 local dentists who actively support the Mission in some way — please make sure to let us know that you support the Mission too. We will be extra gentle for you! (Just kidding, we are, of course, maximally gentle with everybody!)*All funds raised by the show go to the dental clinic and 80% of OUGM’s healthcare/dental/vision services benefit the working poor. We are lucky in Thurston County to have this asset, please choose to support it. 14th Annual Dental Benefit ShowOctober 17, 7:00 p.m. at the Washington Center for the Performing ArtsTickets at www.olytix.org or by phone at 360-753-8586last_img read more