Announcements

2020 Announcements

Announcement 2020 : 05 - Updates to Government FICO and DTI Requirements

DATE: March 27, 2020 Due to continued Covid-19 market volatility and anticipated economic implications, REMN Wholesale is imposing temporary restrictions to our government lending policies including FICO and DTI limitations. This applies to new loan submissions dated 3/27/2020 and after. PRODUCTS IMPACTED: • FHA, VA, and USDA, including Streamlines and Interest Rate Reduction Refinances o […]

Announcement 2020 : 04 - Covid-19 Employment and Income Reverification Requirements

DATE: March 26, 2020 REMN Wholesale has modified our requirements in response to Fannie and Freddie’s guidance regarding employment and income continuation due to COVID-19. In addition, as FHA, VA and USDA have not yet provided guidance, REMN will be applying the new guidance to ALL product types (FNMA, FHLMC, FHA, VA and USDA) effective […]

Announcement 2020 : 03 - FNMA & FHLMC Appraisal Guidance

REMN Wholesale has modified our policy regarding appraisal inspection report types due to new guidance from FNMA and FHLMC. In response to COVID-19, reduced documentation may be permitted in certain circumstances. The below guidance provided is effective immediately for applications taken on or before May 17, 2020. PURCHASE TRANSACTIONS • All primary residences (per the […]

Announcement 2020 : 02 - Extension to Pay 2019 Federal Taxes

REMN Wholesale has modified our policy regarding the validation of any taxes owed due to new legislation enacted by the federal government. Taxpayers will be allowed to defer the payment of any taxes owed for the 2019 tax year until 90 days after April 15, 2020. Filing of 2019 Tax Returns Tax returns must still […]

Announcement 2020 : 01 - Suspension of Non-QM Programs

DATE: March 18, 2020 rev. March 23, 2020 **UPDATE – Due to the continuation of volatile secondary market conditions, REMN Wholesale is unable to proceed with any Non-QM or Jumbo loans. All Non-QM and Jumbo programs are suspended indefinitely, and may not be submitted, underwritten, locked or funded, until further notice** Due to secondary market […]

2019 Announcements

Announcement 2019 : 11 - Conventional Loan Limits for 2020

The Federal Housing Finance Agency (FHFA) has announced 2020 loan limits for FNMA and FHLMC agency loans. The complete list of counties (including high-cost area counties) can be found via this link: Federal Housing Finance Agency. REMN limits the maximum loan amount on Freddie Mac transactions to $1,000,000 regardless of the number of units. **NOTE** […]

Announcement 2019 : 10 - REMN-Prepared Initial Disclosure Package

REMN Wholesale is pleased to announce that effective Wednesday, October 30 the REMN-generated initial disclosure package will include all Federal and State disclosures. Here are some important details about this feature: • This is available for brokers that have transitioned over to the Hub, REMN’s new portal. • When brokers select REMN to prepare their […]

Announcement 2019 : 09 - FEMA Disaster Declaration – Texas

The Federal Emergency Management Agency (FEMA) issued a Disaster Declaration for the state of Texas due to tropical storm Imelda. Declaration Date: October 4, 2019 Incident Period: September 17, 2019 through September 23, 2019 The following counties require re-inspection: • Chambers, Harris, Jefferson, Liberty, Montgomery, and Orange If the subject property is located in one […]

Announcement 2019 : 08 - REMN Wholesale Streamlines Submission Process With The Hub Broker Portal

REMN Wholesale, an industry leader in customer service and consistent same day turn times, is introducing their revamped portal on Monday, July 1, 2019. Appropriately named The Hub (hub.remnwholesale.com), the new portal will provide a central location for partners to submit and manage their pipeline. The Hub allows REMN’s customers to initiate live chats with […]

Announcement 2019 : 07 - Simple Access Asset Qualifier

REMN Wholesale has added Asset Qualifier to its Simple Access suite of products. This program is designed for borrowers who are sound credit risks based on a common-sense approach to underwriting. • Loan amounts up to $3.5MM • Interest only feature available with no reduction to LTV • No Income Documentation necessary • Credit scores […]

Announcement 2019 : 06 - Tax Service Fee Update

REMN Wholesale’s tax service fee will be changing with new loans submitted on or after March 18, 2019. Our tax service fee will be reduced from $83 to $70 on the following products: • Conventional (Fannie/Freddie) • Jumbo/Jumbo Flex • Non-QM (Elite Plus, Expanded Plus, and Simple Access) Please contact your Account Executive with any […]

Announcement 2019 : 05 - FEMA Disaster Declaration – Alabama

The Federal Emergency Management Agency (FEMA) issued a Disaster Declaration for the state of Alabama due to severe storms, straight-line winds, and tornadoes. Declaration Date: March 5, 2019 Incident Period: March 3, 2019 The following county requires a re-inspection: • Lee If the subject property is located in the above county and the appraisal was […]

Announcement 2019 : 04 - FEMA Disaster Declaration – Alaska

The Federal Emergency Management Agency (FEMA) issued a Disaster Declaration for the state of Alaska due to the earthquake. Declaration Date: January 31, 2019 Incident Period: November 30, 2018 The following boroughs require a re-inspection: • Anchorage, Kenai Peninsula, and Matanuska-Susitna If the subject property is located in one of the above boroughs and the […]

Announcement 2019 : 03 - REMN Wholesale Servicing Updates

DATE: January 31, 2019 REMN Wholesale is pleased to announce that we will be transitioning to a new servicing platform effective Friday, February 1, 2019. Due to this update, our mortgagee clause and payment address are changing. New Mortgagee Clause (Including Hazard, Flood, Wind, Hail, etc.) Homebridge Financial Services, Inc. D/B/A Real Estate Mortgage Network […]

Announcement 2019 : 02 - 2018 W2 and 1099 Forms

DATE: January 29, 2019 REMN Wholesale’s policy for receipt of 2018 W2/1099 forms can be found below. This guidance is applicable for all loan products that require income documentation: If the AUS findings or program requirements for manually underwritten loans require a W2 or 1099 for income qualification, REMN Wholesale requires receipt of the most […]

Announcement 2019 : 01 - Conventional AMC Update

Effective: January 16, 2019 REMN Wholesale is pleased to announce a revision to our Conventional AMC in the State of California to Golden State AMC. This change is effective immediately for any new loan submissions and existing pipeline loans in which an appraisal has not been ordered. Below is an updated AMC map for Conventional […]

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