LO Resources; Doc and 1003 Products; Lender Credit Guideline Shifts

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Posted To: Pipeline Press

Huh? Rumors again that FHLB Atlanta is exiting the HFLB Xtra mortgage program effective at the end of this year? Who can keep track of all the rumored, and actual, changes in the biz? (Keeping with the Atlanta theme… no establishments from that locale made the latest list from Travel and Leisure of “The Best BBQ in the U.S.” .) More credit and underwriting guideline changes below. Credit and Underwriting Changes, Shifts in Approval Guidelines Back on April 16th, credit-reporting agencies dropped all information on tax liens and court-ordered debts from consumer credit reports and ratings. Underwriters and LOs noticed the difference, as about 17% of consumers saw their credit scores rise. Some bankers say the change is unfortunate because the mere existence of a tax lien speaks…(read more)

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