Announcements
Daily Market Commentary
Updated WesLend Financial General Disaster Policy outlines our standard mode of operation
FEMA has declared 100+ counties in the state of Texas as Major Disasters.
Exceptions to the General Policy are available for the following FEMA declared disaster areas: Texas: DR-4586-TX
- All approved exceptions/attestations will be required PTD and can be approved and cleared by the file’s assigned Underwriter.
- We are not requiring photos at this time for TX loans however, the UW reserves the right to request them if deemed appropriate to protect our investment.
- We will allow the use of a PIW in TX (All other TX PIW rules apply) even though an incident end date has not been established.
FEMA list of declared Major Disaster areas in the state of California
Exceptions to the General Policy are available for the following FEMA declared disaster areas: California: DR-4558-CA, DR-4569-CA
- All approved exceptions/attestations will be required PTD and can be approved and cleared by the file’s assigned Underwriter.
New Loan Limits for 2021
The general loan limits for 2021 have increased and apply to both conventional and FHA loans. Click below for more details.
New Residential Loan Application (1003)
The 1003 has been updated with some important changes.
New HMDA Rule – Demographic Information Addendum
New HMDA Reporting Requirements - Demographic Information Addendum to the 1003.
Property Assessed Clean Energy (PACE)
Properties that will remain encumbered with PACE obligation after closing are not eligible for FHA mortgage insurance.
WesLend Portfolio Investor
Investment Property? WesLend Portfolio Investor Program Fund your deal using only the cash flow of the subject property (DCR – 1.0) No income/No Employment verification. Interest Only – available.
Program and Pricing Update
All Conforming Programs Due to increased compliance issues with smaller loan amounts, all conforming products, conventional and government, except for the HECM ...USDA-Guaranteed Rural Housing Program.