Bulletins
AC-024 Important Updates: Blue Jumbo, Conventional and USDA
Important Updates: Blue Jumbo, Conventional and USDA FLCBank is providing updates on the following Loan Programs: Blue Jumbo The Blue Jumbo Program is being simplified from two (2) underwriting options into one, while still offering 15 and 30 years fixed rate and 5/6, 7/6 & 10/6 adjustable rate term mortgages ...
AC-023 Reminder USDA Fiscal Year Ending
USDA Funding USDA Fiscal Year 2024 September 30 marks the end of Rural Housing Service Single Family Housing Guaranteed Loan Program 2023 Fiscal Year while October 1 marks the beginning of the 2024 Fiscal Year. It usually occurs at the beginning of each fiscal year, funding for the guaranteed loan ...
B-013 Temporary Suspension of Closed-End Second Mortgage and HELOCs Products
Temporary Suspension of Closed-End Second Mortgage and HELOCs Products Effective today, Thursday, September 21, 2023, FLCBank is suspending any further new registrations or locks on our Closed End Second Mortgage and HELOC products due to product guideline changes. A notification will go out when the product has been re-opened. Any loans ...
AC-22 Closings and Fundings Resumed due to Idalia
Hurricane Idalia Disaster Areas Loan closings and fundings may resume in Florida. All loans that have not been closed/funded must follow the requirements below for Insurance and Disaster Inspections. Insurance Requirements Proof of Homeowner’s Insurance and Flood Insurance (if applicable) remains unchanged and proper evidence of coverage must be provided ...
AC-21 Closings and Fundings Suspended due to Idalia
Hurricane Idalia Disaster Areas All loan closings and fundings are suspended beginning August 30, 2023, and until further notice for loans located in the following Florida counties: Florida Counties Alachua, Baker, Bay, Bradford, Calhoun, Charlotte, Citrus, Clay, Collier, Columbia, DeSoto, Dixie, Duval, Flagler, Franklin, Gadsden, Gilchrist, Gulf, Hamilton, Hardee, Hernando, ...
AC-020 USDA Various Updates
2023 Income Limits Published The 2023 USDA eligibility income limits are in effect as of July 13, 2023, and can be accessed in the direct link imbedded in our guidelines: https://www.rd.usda.gov/sites/default/files/rd-grhlimitmap.pdf Revisions to the SFHG Handbook 3555-1: Chapter 3: Updates provide additional guidance for lender quality control plans where the ...
AC-019 Conventional Underwriting Guideline Updates
This bulletin provides a summary of important updates being made to several sections of FLCBank’s conventional underwriting guidelines. Condominium Project Review Requirement Updates Fannie Mae and Freddie Mac announced they are making the temporary policies for project review addressing projects in need of critical repairs, deferred maintenance and special assessment ...
TPP-001 Third-Party Processor Semi-Annual Certification
FLCBank conducts semi-annual reviews on all approved Third-Party Processors who process loans for FLCBank approved brokers. To ensure a timely review and avoid an interruption in service, please provide the following document no later than the close of business Friday, August 25, 2023. Completed 2023 Third-Party Processor Semi-Annual Certification (CLICK ...
BNDC-002 Changes to Blue Jumbo Product
FLCBank is announcing updates to the Blue Jumbo Option 1 offer that are effective immediately. The changes are outlined in the table below in blue font. Topic Old Policy Blue Jumbo Option 1 New Revised Policy Blue Jumbo Option 1 ARM Rate No prior information referencing the ARM floor Added ...
NDC-003 2023 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 Friday, August 4, 2023. Completed 2023 Annual Customer Review Certification (CLICK TO DOWNLOAD). If any responses ...
B-011 2023 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 document no later than the close of business Friday, August 4, 2023. Completed 2023 Annual Customer Review Certification (CLICK TO DOWNLOAD). If any responses ...
CNDC-005 FHA Supplemental Consumer Information Form Requirement
The U.S. Department of Housing and Urban Development (HUD) Published Mortgagee Letter 2023-13 on June 27, 2023 with provisions of their new requirement where FHA will require the use of the Supplemental Consumer Information Form 1103 (SCIF), to collect and report certain information from Borrowers effective with FHA loans with ...
B-010 FHA Supplemental Consumer Information Form Requirement
The U.S. Department of Housing and Urban Development (HUD) Published Mortgagee Letter 2023-13 on June 27, 2023 with provisions of their new requirement where FHA will require the use of the Supplemental Consumer Information Form 1103 (SCIF), to collect and report certain information from Borrowers effective with FHA loans with ...
B-009 Updated AMC Pricing Nationwide Appraisal Network
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). Process Overview: When the appraisal vendor accepts your order, the ...
AC-018 Conventional Mortgages and Condominium Property Insurance Requirements
FLCBank would like to remind customers that properties located in a Condominium Project must comply with established Condominium Project Insurance requirements posted in our Resource Center under Closing Documents Guidelines to ensure property insurance coverage is confirmed: The Project’s Homeowner’s Association (HOA) must insure the building, project improvements, and structures ...
