For years, one of the most frustrating limitations in FHA lending was the inability to use boarder income—that is, rent paid by someone living in your home—to help qualify for a mortgage. Fortunately, that has now changed. With the release of HUD Mortgagee Letter 2025-04, FHA has introduced updates that allow for the use of…
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New changes coming to Fannie Mae’s automated underwriting system June 25 could change the way you get a mortgage. Here’s how… Fannie Mae has announced the way they look at credit is about to change for all loan applications dated June 25, 2016 or after. Lenders use Fannie Mae’s automated underwriting system (Desktop Underwriter) for…
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