Loan Prospector® Outreach
Mortgage-Readiness Assessment for Housing Professionals
Update to Loan Prospector Outreach May 12, 2013, Release
On July 14, 2013, Loan Prospector® Outreach was updated to reflect revised qualification requirements for adjustable rate mortgages (ARMs) with initial adjustment periods of five years or less for all loan resubmissions with initial submissions prior to May 12, 2013. These requirements are effective for mortgages with settlement dates on or after July 1, 2013, as outlined in Guide Bulletin 2012-21.
Click here for an overview of all of the Loan Prospector Outreach enhancements communicated in the May 13, 2013, release, including this July 14, 2013, update.