Monthly Archives: October 2017

Fannie Mae Removes Cash-out Seasoning for Properties Listed for Sale

It’s not everyday that a home is sold in a month or less. Some properties remain unsold on the Multiple Listing Service (MLS) for six months. What if a homeowner has a change of heart and decides to do a cash-out refinance instead? What about the usual cash-out seasoning period? Existing guidelines across most loan programs would say […]

Qualifying for a Conventional Mortgage Is More Secure With Truncated Asset Account Numbers

The release of Desktop Underwriter® Version 10.1 means more convenience for borrowers applying for conventional loans, cutting back on appraisals, project reviews, and self-employment income requirements. Not only that, Fannie Mae allows for shortened or truncated asset account numbers to further protect mortgage borrowers’ financial information. Indeed, the recent Equifax data breach reiterates the need to secure sensitive […]