Premier Nationwide Lending is now able to accept a Property Inspection Waiver on loans that receive the option through DU.  Premier Management will need to approve these PIW's before the complete file is submitted for underwriting.  

Please refer to the attached bulletin for full details.   

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Due to recent requirements from our investors, effective immediately, the updated Anti-Disclosure attached here will be required for all new submissions with lender paid compensations. We will also accept a similar found that is available in your Loan Origination System, including Calyx Point. A sample of Point's form is in the attachment below.

This applies to loans received in our office on or after October 24, 2012. 

We have attached a copy of the updated disclosure. It is also in our Forms section. There are detailed instructions on how to complete the disclosure included here that might be helpful. 

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Effective on conditional commitments issued on or after October 1, 2012, Rural Development will revise the up-front and annual fee structure.

The annual (monthly) fee for purchases will increase to .40%.

The upfront guarantee fee for refinance transactions will increase to 2%.

See the attached announcement for more details.

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A guide to finding, pricing, and locking your loans with Premier.

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We are offering a Fast Track underwriting option for COMPLETE loan submissions. Fast Track submissions will have an underwriting decision within 72 hours of receiving the file in our office. The attached flyers list everything that must be included in the file in order for you to take advantage of this option. The flyers, with each item checked off, should be at the very top of your file when it is submitted. The regular submission sheet still needs to be included with the file.

There are a few important details about the Fast Track that are worth mentioning.

• The 72 hours will not be honored if ALL items are not included with the submission.
• The loan must have DU or LP approval.  Manual underwrites will not be allowed. 
• The borrower cannot have previous bankruptcies, foreclosures, or CCCS.
• The subject property cannot have changed ownership in the last 12 months (flip property).
• Be sure that you email the Point or Fannie Mae file to submissions@pnlending.com

With the busy summer months upon us, this Fast Track underwriting can be very advantageous to you. You get an underwriting decision in 3 days or less and you should have very few prior to doc conditions because you’ve submitted a complete file from the beginning. This will save you time with resubmissions.    

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List of fees that are included in the HOEPA/Section 32 calculation.

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List of fees that are included in the FNMA/FHLMC 5% fee limitation calculation.

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Effective for case numbers assigned on or after April 9^th, the FHA upfront and annual mortgage insurance premiums will increase.  The UFMIP will be increased from 1% to 1.75% of the base loan amount.  The annual premium will increase by 10 basis points.  A chart that reflects the new effective annual MI rates based on term and LTV is attached.

The mortgagee letter from HUD that addresses these changes is attached here as well.

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Do you know the process for ordering a wire for funds to close? 

Attached are the steps required for getting a wire a ordered for your files. 

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Excel spreadsheet to use to calculate the upfront guarantee fee for USDA loans.  The rate is 2% and that is available in the dropdown in the Rate space.

HUD has announced changes to FHA loan limits effective on October 1, 2011.  In order to still qualify for the current loan limits, the file must have a case number and credit approval on or before September 30, 2011.  In part, HUD's definition of credit approval includes the appraisal date.  The appraisal effective date must be on or before September 30.  The full definition can be found on page 10 of the mortgagee letter. 

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List and examples of disclosures required for FHA new construction loans.

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USDA guidelines

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Instructions for completing the VA Loan Analysis form (VA Form 26-6393)

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Tax impound schedule for Texas properties to use when figuring the number of months of tax escrow to collect at closing.

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Instructions on how to estimate hazard impounds for refinances.

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Excel calculator to use when figuring the aggregate adjustment.  The yellow spaces are the only spaces that need to be changed.  Enter the First Payment Month, annual hazard insurance amount and month due, as well as the annual property tax amount.  The aggregate adjustment will calculate once that information is entered correctly.