July 2017 Changes In Credit Underwriting and Guidelines

July 26, 2017


More changes are in effect for the month of July 2017. Credit underwriting and guidelines have shifted a bit and Rob Chrisman outlines them in his latest round-up of news from the mortgage world.

"Citi Correspondent Lending has issued its July 21st bulletin," according to Chrisman


"General policy updates include: Desktop Underwriter – Version 10.1, 97% LTV Option: Credit Score Change, Delegated Underwriting: Ineligible Transactions, Condo Project Updates and Bankruptcy Documentation."


Wells Fargo undoubtedly takes the lead in changes this month as they "aligned the max debt-to-income requirement with correspondent credit underwrite loans."


"Loans sold to Wells Fargo Funding should be underwritten to the Wells Fargo Funding Standard Non-Conforming guidelines in the Wells Fargo Funding Seller Guide and Correspondent Credit Underwrite Non-Conforming Guidelines," according to Chrisman's round-up.


Other companies reflecting changes include, NewLeaf, MFW, Sun West and Pacific Union. To learn more about the changes to guidelines and credit underwriting, check out Rob Chrisman's July 25 round-up by clicking on the image above.  


Share on Facebook
Share on Twitter
Please reload

Recent Posts

Please reload

Featured Posts

Gateway First Bank Expands With 34 New Mortgages Centers Across The Country

January 8, 2020

Please reload

Follow Us

  • Grey Facebook Icon
  • Grey Twitter Icon
  • Grey Facebook Icon
  • Grey Twitter Icon

 Stay updated on the latest news, tips, and event info in the mortgage industry. 

© American Business Media, LLC.