Issue Date: 07/01/2009
Effective Date: See Announcement
Announcement #: WPA-2009-026
Re: Clarifications and Various Topics
- Clarification, Reminder regarding Independence Day Holiday.
- Clarification for MSI HVCC deadline date.
- Updated process, form for resolving HVCC appraisal stipulations.
- Elimination of Community Lending Products.
- Reminder regarding USDA requirement for Market Conditions Addendum.
- Clarification of documentation requirements versus 4506-T requirements.
- Revision regarding VA IRRRL appraisal requirements.
- Reminder - Fannie Mae 6/27/09 DU Release 7.1
WPA-2009-025
FHA ARM Change Date Calendar; POC Requirements; USDA Hazard Insurance Deductible Maximum
• FHA Change Date Calendar.
• MSI Paid Outside of Closing (POC) Requirements.
• Insurance Deductible maximums for USDA loans.
WPA-2009-024
Underwriting Clarifications; 2-4 Unit Condos; DU Plus™; HUD-1 Reviews/Controls
• Underwriting Clarifications for Rental Income and the Fannie Form 216 requirements.
• Addition of a new 2-4 Unit Condo Form.
• DU Refi Plus™ changes for new DU release 6/27/09.
• HUD-1, Audit Point for Reviews and Controls
WPA-2009-023
Application Signature Requirements; MSI HVCC Timing; Property Flipping
• Reminder regarding MSI’s application signature requirements.
• HVCC Timing and MSI Requirements.
• Reminder – Property Flipping.
• Government Loans – Clarifications.
WPA-2009-022
4506-T; Tax Transcripts; DU Refi Plus™ and other Clarifications
• Memorial Day Reminder
• Revisions and Clarifications for 4506-T requirements, including completion requirements.
• Revisions to the Tax Transcript requirements for wage earners.
• Correction/Clarification of MSI Conforming Non-Occupant Borrower requirements.
• DU Refi Plus™, MSI restriction for properties listed within the past
6-months and Temporary Buydown revision.
• Clarification regarding elimination of UGI.
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