Announcements
Announcement : - FICO Score Update for 203k Loans
REMN Wholesale has modified our minimum FICO score requirement for 203(K) loans to the following: Purchase loans – minimum FICO score is 640 Refinance loans – minimum FICO score is […]
Announcement : - FICO Score Update for Conventional Loans
REMN Wholesale has modified our minimum FICO score requirement for cash-out conventional (FNMA and FHLMC) loans. The new minimum FICO score is 680. This updated requirement applies to new loan […]
Announcement : - Forbearance Policy
DATE: May 27, 2020 In response to current market conditions due to the COVID-19 pandemic, REMN Wholesale is announcing a forbearance loan policy. This policy is effective immediately and applies […]
Announcement : - Loan Submissions with a TBD Property Address
DATE: May 19, 2020 REMN Wholesale is temporarily suspending submissions and initial disclosure preparation for loans that do not have a property address (TBD loans). This guidance is effective with […]
Announcement : - VA Appraisal Guidance
DATE: April 6, 2020 REMN Wholesale has modified our policy regarding appraisal inspection report types due to new guidance from VA. In response to COVID-19, reduced documentation may be permitted […]
Announcement : - IRS Tax Transcript Policy Update Due to COVID-19
DATE: March 27, 2020 REMN Wholesale utilizes a random loan selection to obtain tax transcripts. Due to the COVID-19 situation, there are significant delays in the processing of IRS transcripts. […]
Announcement : - 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. […]
Announcement : - 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 […]
Announcement : - FNMA & FHLMC Appraisal Guidance
Rev. June 28, 2020 **This guidance has been extended and is effect for applications taken on or before July 31, 2020** REMN Wholesale has modified our policy regarding appraisal inspection […]
Announcement : - 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 […]