In the latest Fannie Mae Selling Guide update, three key topics are addressed: leasehold estates, manufactured homes, and mortgage fraud.
Key points from the update include:
– Leasehold estates: The guide provides detailed information on how leasehold estates impact mortgage eligibility and underwriting standards.
– Manufactured homes: Fannie Mae outlines specific requirements for financing manufactured homes, including appraisal guidelines and loan-to-value ratios.
– Mortgage fraud: The update includes new measures to detect and prevent mortgage fraud, highlighting the importance of due diligence in loan originations.
Mortgage industry professionals should carefully review the updated Fannie Mae Selling Guide to ensure compliance with the latest standards and guidelines. These changes reflect the evolving landscape of the mortgage industry, emphasizing the importance of thorough evaluation and risk management strategies.
You can read this full article at: https://www.housingwire.com/articles/fannie-mae-selling-guide-leasehold-estates-manufactured-homes-fraud-prevention/(subscription required)
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