Important Credit Updates
NOTICE TO ALL CUSTOMERS
FLCBank has Credit Policy updates on Fannie Mae, Freddie Mac and USDA loans as it relates to the following topics:
Fannie Mae Updates:
- Properties with an Accessory Dwelling Unit (AUD)
- Regarding Building Sketch Exhibit Requirement for Appraisal Reports
- Underwriting and Solar Panel Clarification
Freddie Mac Updates:
- Properties with an Accessory Dwelling Unit (AUD)
- Building Sketch Exhibit Requirement for Appraisal Reports
- Grossing Up Social Security Income
- Requirements for Omitting debts with ten payments or less
- Installment Debts/Child Support Payments/Alimony or Separated Maintenance with Ten (10) payments or less
USDA Reminders:
- USDA 2020 Fiscal Year and Issuance of Conditional Commitments
Click below to read the full bulletin.