200, 300, 500, 800, & 1000 Series ARM Products have made improvements for the maximum allowable LTV. They are now in line with the Maximum LTV for Fixed Rate Products. DU Risk Assessment has been […]
Applicable to Fannie Mae and Freddie Mac products, Fixed & ARM: Updates to 500 series for minimum credit score requirement, and maximum LTV. In support of ongoing efforts to expand access to credit and to support sustainable […]
Under certain guidelines. Freddie Mac allows us to use borrower income from a future employer: Employment & Earnings Type: Income must be from primary employment. Income must be Base Pay, non-fluctuating salaried earnings. General Eligibility: […]
Applicable to FNMA Loans: If a payment amount is provided on the credit report, that amount can be used for qualifying purposes. If the credit report does not identify a payment amount (or reflects $0), […]
Applicable to Freddie Mac Loans: Fannie Mae has updated their policy to permit truncated account numbers that display at least the last four digits of the borrower’s asset account. Previously the bank statement had to […]
Applicable to FNMA Loans: When a borrower is obligated on a non-mortgage debt, but is not the party who is actually repaying the debt, the debt may be excluded from the borrower’s recurring monthly obligations, […]
MFG has added several Portfolio and NON-QM programs for Purchase, Rate and Term and Cash Out Refinance transactions. Our Portfolio Product line is offered to provide borrowers with loan programs that extend beyond the Agency guidelines. […]
Let us Disclose For you with “No Hassle Origination” Enjoy the benefits of MFG Banking’s “No Hassle Origination”: – Allow for faster appraisal ordering- Quicker turn-times- No disclosure delays No Need to wait for a […]
MFG Wholesale Disclosure Procedures MFG has created the “No Hassle Origination” process to comply with the TILA RESPA Integrated Disclosures (TRID – Effective 10/3/2015) and to assist our brokers in getting their loans closed as […]
With a range of features and abilities, our new Loan Origination System (LOS) creates a streamlined & transparent loan process. Closing loans with MFG has never been so easy. BRIDGE was created to streamline our processing and […]