Investor, Agency, Lender, and MI Updates

Posted To: Pipeline Press

Investors, those left, have been somewhat busy recently, adjusting underwriting and documentation guidelines to continue to make current production the cleanest ever. (Many may just skip to the joke.) As always, it is best to read the full bulletins, but here are some recent happenings: Several institutions, including Wells Fargo , Citibank , and Affiliated Mortgage , are adopting a new policy on insuring attached condos and PUD projects. Along with the walls-in insurance required for attached condos and PUDs whose loans closed after March 1 st , attached PUDs are subject to additional Hazard Insurance requirements. All post-April 2 nd registrations will need walls-in coverage that is at least 100% replacement as determined by the borrower’s insurance provider; that is, it should be sufficient…(read more)

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