Bureau Changes Effective 7/1/09 and other Reminders

Thursday, June 25th. 2009

 

To all Approved MetLife Brokers

 

 Very Important ... Please Read Attached:

 

We are now looking at Funding (2) days prior to Recording

No Specials

and No Pulling of Documents once submitted for Recording

 

Reminders:

 

Maximum 55% DTI regardless of DU Findings for Conforming Loans 80% LTV and less

41% DTI regardless of DU Findings for Conforming loans over 80% LTV

 

Be Proactive:

 

For all Condos/Townhomes broker should review for acceptability of project

Remember:  RR105c and/or Disclosure are required for all projects even on Limited Reviews

with possible exception of DU Refi. Plus

 

HVCC Recession:

 

There is a requirement that the borrower must receive and review the appraisal

3 days prior to closing

There may be cases whether due to contract deadlines, lock expirations, etc. where

a waiver may be used.  If this is the case, you will be sent a waiver form for the borrower to sign.

This will be forwarded by operations.   

 

For now Aloha

 

Rita Kama-Kimura 

Wholesale Account Representative

(808)  275-8006   direct

(808)  864-0520   cellular

 

 To maximize communication it's wise to "Reply to All"

 

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