Bulletins
Temporary Polices Related to COVID-19
NOTICE TO ALL CUSTOMERS FLCBank would like to share the latest version of the Temporary Polices Related to COVID-19 (version 18), which includes newly added definitions regarding mortgage reinstatement and loss mitigation solutions. No other changes made. Click below to read the full bulletin AC-039_8-17-2020_ update to COVID-19 Temporary Policies ...
EFFECTIVE IMMEDIATELY: Adverse Market Refinance Fee on Conventional Refinance Loans
NOTICE TO ALL CUSTOMERS In response to the newly released FNMA Lender Letter-2020-12 and FHLMC Guide Bulletin 2020-32, FLCBank will be implementing an additional Adverse Market Adjustment of 50 basis point (.500%) for all conventional no cash out and cash out refinances. This adjustment will be in addition to any ...
Updates to Conventional, FHA, and VA Products
NOTICE TO ALL CUSTOMERS Important updates to our Conventional, FHA, and VA Products, including the discontinuation of the Dr. Loan Program. Click below to read full Bulletin AC-037_8-3-2020_Various Topics ...
Daily Rate Sheet Available in Optimal Blue or our LOS
NOTICE TO ALL CUSTOMERS FLCBank is pleased to announce that we have partnered with Optimal Blue to place pricing at your fingertips on one of the industries most used pricing engines. Click below to read full Bulletin AC-036_7-21-2020_Daily Rate Sheet Available ...
Updates to COVID-19 Temporary Policies
NOTICE TO ALL CUSTOMERS The agencies continue to provide lenders with temporary guidance in relation to the COVID-19 pandemic and have extended the temporary flexibilities related to COVID-19 through August 31, 2020. Click below to read full Bulletin AC-034_7-16-2020_Modification of COVID-19 Policies ...
Updates to COVID-19 VVOE Requirements
NOTICE TO ALL CUSTOMERS Effective June 29th our temporary VVOE requirements related to COVID-19 is being updated, removing the VVOE required the day of loan closing on purchase transactions and the day of loan funding on refinance transactions. Click below to read full Bulletin AC-033_6-29-2020_COVID-19 VVOE Requirement ...
Update on Fannie Mae’s Limited Cash Out Refinance Transactions
NOTICE TO ALL CUSTOMERS FLCBank is aligning with Fannie Mae’s recent policy change announced on bulletin SEL-2020-03 regarding the permissible use of loan proceeds… Click below to read full Bulletin AC-032_6-23-2020_-Update-Fannie-Mae-Limited-Cash-Out-Refi.pdf ...
Various Credit Policy Updates and Reminders
NOTICE TO ALL CUSTOMERS Temporary Policies related to: Area Median Income (AMI) Limits Update Updated Income Limits for USDA Transactions Dual or Outside Employment Reminder Click below to read full Bulletin AC-031_6-19-2020_ Various Temporary Credit Policies ...
EXTENSION OF TEMPORARY POLICES – JULY 31, 2020
NOTICE TO ALL CUSTOMERS Extension of Effective Dates The Temporary Polices related to COVID-19 are being extended from June 30, 2020 to July 31, 2020. Click below to read full Bulletin AC-30_6-12-2020_Extension of Temp Policies_COVID19 ...
UPDATES AND TEMPORARY POLICES RELATED TO COVID-19
NOTICE TO ALL CUSTOMERS FHA/USDA Streamline and IRRRL Refinance Transactions Borrowers who are retired or receiving social security income must provide … Self-Employment Income (All Mortgage Products) In addition to regular self-employed tax return… Click below to read full Bulletin AC-029_6-10-2020_COVID-19_updates ...
Updated COVID-19 Policies
NOTICE TO ALL CUSTOMERS Updated Policy for Borrowers with Mortgages in Forbearance, Water Requirement on VA loans and other clarifications Borrowers with Mortgages in Forbearance As we navigate the pandemic together and experience the impact to the economy and consumers, the CARES Act, rules and regulations, it is important to ...
Updates and Extension of Temporary Polices Related to COVID-19
NOTICE TO ALL CUSTOMERS As the country continues to battle the spread of COVID-19 and the resulting impacts to businesses, borrowers and loan originations, FLCBank’s Temporary Policies Related to COVID-19 are being extended from ….. Click below to read full Bulletin AC-026_05-06-2020_Updates and Extension of Temp Policies_COVID19 ...
Updated Policy Conventional Cash Out Refinances
NOTICE TO ALL CUSTOMERS FLCBank is updating its credit policy for Conventional Cash Out Refinances, effective with loans locked on or after Monday, May 4, 2020: Conventional Cash Out Refinances Cash out refinance will be limited to 1-Unit Primary Residence Properties … Click below to read full Bulletin AC-025_04-30-2020_Updated Policy ...
Mortgages in Forbearance – COVID-19 Updates
NOTICE TO ALL CUSTOMERS Effective immediately, due to the ongoing impact from the COVID-19 pandemic resulting in job loss, income reduction or other issues affecting borrower and businesses, FLCBank is updating its Temporary Policies Related to COVID-19. Click below to read full Bulletin AC-024_04-30-2020_Mortgages in Forbearance – COVID-19 Updates ...
Preferred Jumbo Updates due to current market conditions
NOTICE TO ALL CUSTOMERS Preferred Jumbo Updates due to current market conditions and the economic impact of COVID-19, we are updating the Preferred Jumbo Cash Out eligibility criteria effective for unlocked loans after… Click below to read full Bulletin AC-023_04-24-2020_Preferred Jumbo Updates ...
