Loan Product AdvisorSM to Align with Guide Bulletin 2016-23
December 20, 2016
Loan Product AdvisorSM is now updated to reflect the 2017 conforming loan limits. You may begin originating mortgages with these new loan limits immediately.
We recently announced that we’re increasing our maximum base conforming and high-cost area loan limits on January 1, 2017. Mortgages with higher original loan amounts eligible under the 2017 loan limits must have Freddie Mac funding or settlement date on or after January 1, 2017.
Income Qualification and Asset Requirements
Loan Product Advisor will be updated on March 6, 2017, to align with the income qualification and asset requirements announced in Single-Family Seller/Servicer Guide (Guide) Bulletin 2016-23. The updates support revisions to our income and asset requirements effective for mortgages with settlement dates on or after July 6, 2017.
Note: We’ve extended the effective date for revised income qualification requirements and guidance from March 6 to July 6, 2017, to give you additional time to prepare.
Look for more details concerning these changes in the future.
For More Information
For additional details on these changes, please review:
- Guide Bulletin 2016-23.
- Guide Bulletin 2016-19.
- December 15, 2016, Single-Family News Center article.
- Loan Advisor Suite web page.
- Learning Center underwriting resources.