Important: New GSE Guidelines
The GSEs have updated their guidelines for loans in forbearance that affect all transactions starting Tuesday, June 2. Because of this, starting June 2, we require mortgage statements on all subject and non-subject properties at "Submit Full Package."
Updated Guidelines For New Transactions
- On all products: On any loan currently in forbearance where the client is making payments on time, the loan can proceed. You're good to go.
- For any loan currently in forbearance where the client is not making payments: The loan must be brought current in order to close.
- For all conventional products: If a client has entered a workout plan (post forbearance), we have to show three consecutive payments.
- For all government products: If a client has entered a workout plan (post forbearance), all payments on the plan must be complete.
How Quicken Loans Mortgage Services is Adjusting to the New Norm
EVP, Austin Niemiec sits down with Mortgage News Network, Andrew Berman to discuss how QLMS was ready to go remote, how they’re dealing with the surge in applications and new broker partner signups. Watch Here
Creating Certainty | Bob Walters & Austin Niemiec
There's a lot of changing information out there. Our QLMS leaders are giving it to you straight, providing essential insights and helping partners shape their businesses for what's ahead. It's about helping America now and down the road. Watch Here
GURU/Answer - COVID Information
- Our technology tools are helping partners answer client questions quickly and effectively. Get mortgage process updates by searching “COVID-19” or “coronavirus” on The Answer and on the GURU homepage. Log in here.
- COVID-19 Mortgage Servicer Assistance
- Amrock Closing & Appraisal Services during COVID-19
- Fannie Mae - Our Approach to COVID-19
- Freddie Mac - Our COVID–19 Response
- Our Executive Vice President, Austin Niemiec, shares valuable conversations with our Quicken Loans leaders. Check out the series here.