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Bulletin 2020-048 USDA Loans Temporary COVID-19 Underwriting Guidance - Revised

USDA – Temporary Guidance for Verbal Verifications of Employment and Interior Inspection Appraisals and impacted by COVID-19 Pandemic Emergency

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Bulletin 2020-047 FHA Loans – Temporary COVID-19 Underwriting Guidance -Revised

NewRez is implementing several temporary guideline changes for re-verification of employment and utilizing Exterior-Only and Desktop-Only Appraisal reports as alternatives to the standard Exterior-Interior Inspection Appraisal report. These changes were made to reflect current realities with the public health emergency and market conditions as a result of the COVID-19 pandemic. Several of the changes are specific NewRez product overlays and the other changes are adoption of temporary flexibilities that FHA has made for alternative appraisal reports.

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Bulletin 2020-046 4th of July Holiday Reminder

With the July 4th holiday approaching and falling on a Saturday, this announcement provides details of how the holiday will be handled this year from a Compliance perspective.

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Bulletin 2020-044 Asset Income Modeler (AIM) Updates

We are providing the following guidance announced in Freddie Mac Bulletin 2020-23 that clarifies the temporary requirements in NewRez Announcement 2020-042 for underwriting borrowers with self-employment income are applicable to mortgages originated with LPA AIM using tax return data (i.e., AIM for self-employed).

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