Bulletins

NOTICE TO BROKERS   Home Possible and HomeReady Guidelines with VLIP $2,500 Grant Effective Tuesday April 9, 2024, FLCBank will offer to Very-Low-Income Purchase (VLIP) Borrowers, a $2,500 Credit Grant to be used towards the down payment and/or closing costs and pre-paid items of the purchase of a primary residence ...

NOTICE TO CORRESPONDENT CUSTOMERS   Home Possible and HomeReady Guidelines with VLIP $2,500 Grant Effective with loans delivered to FLCBank on or after Tuesday, April 9, 2024, HomeReady and Home Possible Mortgages with the $2,500 Grant for Very-Low-Income Purchase (VLIP) are eligible for purchase. FLCBank will refund the $2,500 credit ...

NOTICE TO NON DELEGATED CORRESPONDENT CUSTOMERS Home Possible and HomeReady Guidelines with VLIP $2,500 Grant   Effective Tuesday April 9, 2024, FLCBank will offer to Very-Low-Income Purchase (VLIP) Borrowers, a $2,500 Credit Grant to be used towards the down payment and/or closing costs and pre-paid items of the purchase of ...

NOTICE TO CORRESPONDENT CUSTOMERS   IRS Form 4506-C to Validate Borrower Income Documentation Reminder   FLCBank reminds its Correspondent Customers of the requirement to have each borrower whose income (regardless of income source) is used to qualify for the loan to complete and sign a separate IRS Form 4506-C at ...

NOTICE TO NON-DELEGATED CORRESPONDENT CUSTOMERS Conventional Condominium Review Process Change Did you know when the HOA or management company returns the condominium questionnaire that does not answer questions related to special assessments, critical defects, and significant deferred maintenance or states the information is unknown, or not applicable, lenders are still ...

NOTICE TO BROKERS Conventional Condominium Review Process Change Did you know when the HOA or management company returns the condominium questionnaire that does not answer questions related to special assessments, critical defects, and significant deferred maintenance or states the information is unknown, or not applicable, lenders are still required to ...

NOTICE TO BROKERS   FLCBank Compensation Policy and Changes to Compensation   FLCBank allows adjustments to compensation once a quarter; four total adjustments per calendar year. Any requests submitted on the wrong form or without a reason included will not be accepted. Upcoming Compensation Adjustment Date:   To make an ...

NOTICE TO ALL CUSTOMERS   Property Insurance Clarifications Through recent announcements, Fannie Mae SEL-2024-01  and Freddie Mac Bulletin 2024-1 , the GSE’s have clarified Property insurance requirements. These clarifications applied to property insurance policies for one- to four-unit properties and master property insurance policies for project developments include: Specifying that ...

NOTICE TO NON-DELEGATED CORRESPONDENT CUSTOMERS Action Required – 2024 Semi-Annual Review Process: FLCBank conducts reviews on all approved customers in all channels semi-annually. To ensure a timely review and avoid an interruption in service, please provide the following documentation no later than the close of business Monday, February 26, 2024 ...

Action Required – 2024 Semi-Annual Review Process: FLCBank performs semi-annual reviews on all active approved customers in all channels. To ensure a timely review and avoid an interruption in service, please provide the following document no later than the close of business Monday, February 26, 2024. Completed 2024 Semi-Annual Customer ...

NOTICE TO BROKERS Important Announcement: Updated AMC Vendor Pricing 2024 Effective immediately, for appraisal orders placed in Mortgagebot LOS for the AMC Vendor shown below.  The AMC has updated pricing by lowering many appraisal fees; please use these updated fees when quoting the appraisal fee for the Loan Estimate (LE) ...

NOTICE TO ALL CUSTOMERS Important Fannie Mae and Freddie Mac Credit Updates On January 10, 2024, FLCBank published a summary of Fannie Mae and Freddie Mac credit updates via Bulletin #2024-AC-003. This bulletin is to provide Customers FLCBank’s credit underwriting updates and the timeline of adherence to the credit updates ...

NOTICE TO ALL CUSTOMERS  Income Validations Reminder Tax Returns and Transcripts are required for borrower(s) whose “self-employment” or “other” income sources are being utilized for the repayment of the mortgage. The number of years for tax returns and transcripts being required is based on the AUS findings except on loan ...

NOTICE TO ALL CUSTOMERS   2024 FLCBank’s Mortgage Holiday Schedule The FLCBank 2024 holiday schedule is now available. Bolded Holidays: All offices are closed. Click here to access the printable pdf. CLICK HERE TO DOWNLOAD THE COMPLETE BULLETIN ...

FHA Temporary Interest Rate Buydown Updates   Great news! FLCBank is expanding the Temporary Interest Rate Buydown option in its FHA Loan Program to now include Condominium Units as an acceptable property type and adding the 3-2-1 buydown option. These updates are effective today Tuesday January 9, 2024. Check out ...