Constant updates to policies, requirements and regulation is what keeps the mortgage world fresh and exciting. Today we have another update from Wells Fargo that mortgage professionals should be aware of in October 2017.
"Wells Fargo Funding is updating its unacceptable property types for Non-Conforming Loans to include A-frame homes and other atypical properties that do not conform to the neighborhood due to their unique style and limited comparable properties," according to Rob Chrisman's roundup.
"Effective on Best Effort Registrations, Locks, relocks, and renegotiations on and after October 24, 2017."
While Wells Fargo Funding is helping non-conforming homes, companies like Fifth Third Correspondent Lending, MGIC, MB Financial Bank N.A., Pacific Union and many others Arte making Jumbo adjustments.
To learn more about Wells Fargo Funding and the Jumbo adjustments being made by the aforementioned companies, click on the image above.