Based upon an ongoing evaluation of our guidelines, New Penn Financial has updated FHA guidelines to remove or modify current overlays, and add further guidance.
Starting Monday December 3rd, New Penn Financial will begin supporting the increased conforming loan limits that Fannie Mae and Freddie Mac announced on Tuesday November 27th.
As a follow up to the Announcements from November 14, 2018 and November 16, 2018, New Penn Financial continues to monitor the impact from the California Wildfires.
As of November 12, 2018, FEMA had issued a disaster declaration with an incident date of November 8, 2018 for Butte, Los Angeles and Ventura counties in California.
Loans in Butte, Los Angeles and Ventura counties in California.
USDA has made many changes to HB-1-3555, Chapter 9: Income Analysis, effective with applications submitted to USDA for Conditional Commitment requests beginning December 15, 2018.