Brian Dinsmore
Lisa York
Brian Dinsmore
Lisa York
Brian Dinsmore
Brian Dinsmore
Josie Marron-Herrera
Wendy Skytta
Clint Anderson
Jon Barnes
Austin Bell
Stephanie Clevenger
Brian Dinsmore
Rhonda Francis
Kala Murphy
Brian Dinsmore
Josie Marron-Herrera 12-4pm
November 13, 2024
Our Holiday Hits operations fly-in is fast approaching! We are looking forward to a fun couple of days and hope to see you there. We encourage you to log in to the Virtual Fly-In website VanDyk Fly In and ensure your access is set before the event kicks off on the 15th. See the attached announcement email and contact ProductionSupport@vandykmortgage.com with any questions
ALL licenses expire on 12/31/2024. If you want to maintain your license(s) and renew them for 2025, you will need to complete your Continuing Education (CE / CON ED) before your renewal can be submitted. Please reach out to Stacey Dettling with any questions.
Freddie Mac released their own Condo Project Advisor this year to offer additional opportunities for flexible condo project reviews. We would like to take this opportunity to provide clarification on the different colors of Project Assessment Requests (PAR) and what they mean.
*For Green/Yellow PAR Findings being submitted to The Condo Vault: Include the PAR findings and a note in the notes box with the order.
We encourage you to sign up for one of Freddie Mac’s Condo Project Advisor Webinars and review the resources here. Check out the Freddie Mac CPA FAQ here.
Great news! We have simplified the Condo eFolder buckets. The 2600 (Condo): All Condo Documents bucket can be used for ALL condo documents besides Master Insurance Policies and Condo Approval.
If you have a property that needs to be declined due to the condo not being approved, please upload the declined project documentation to the 2600 (Condo): All Condo Documents bucket as well. These documents are required in order for the denial to be finalized.
The Title Request Form for Bond loans has been updated in Encompass. Previously, the form “Title Request Form (Bond Loan)” printed the Florida Housing agency info by default. This form now prints a blank bond agency name/address for you to fill in for any state DPA loan. “Title Request Form (FL Housing Bond Loan)” will now be used for Florida Housing loans.
We are almost ready to launch our in-house FHA 203k and Homestyle Renovation products. If you want access to these products, the branch origination team (LO, TC, Processor, etc) must all attend this training on Tuesday, November 19 at 2pm ET. Invitations for training will be sent soon – watch your inbox!
We are excited to announce that Polly is now able to read the loan file address and auto-generate a census tract for Chase Community Lending loans! Once the full address is entered, the codes will generate. The below is the new screen you will see when pricing a loan or running a scenario. Another thing you will notice is the removal of the CLTV/HCLTV fields, those generate based on the loan scenario and will show at the top of your screen.
What’s the point of no shave in November?
No Shave November is a campaign created to grow awareness by letting your hair grow for 30 days. Men are challenged to grow out their facial hair, beard, mustache, whatever they can stand! This movement was created to raise awareness of Men’s Health concerns, including prostate cancer, testicular cancer, and mental health issues.
Is No-Shave November for guys only?
Can females do No-Shave November? From baseball teams to news crews and police forces, guys certainly get most of the attention when it comes to no shave—for obvious reasons. Men like to “let it grow” when it comes to bears and mustaches. However, women can also participate.
We are delighted to welcome our most recent new hires! Be sure to give them a warm welcome and log in to our Welcome to VDM (vfairs.com) site to “like” the photos they have added to the photobooth:
Rebekah Coburn, Processing Assistant | Branch 131, Muskegon, MI |
Terry Patterson, Loan Officer | Branch 253 |
Dora Isaksen, Loan Officer | Branch 200, Pocatello, ID |
Agency Updates
Fannie Mae
You have likely heard and seen the rumblings around Value Acceptance (Fannie Mae Appraisal Waivers) increasing LTVs to 90%. We are happy to confirm that this is correct! Beginning in Quarter 1 of 2025, for purchase loans for primary residences and second homes, the eligible LTV ratios for Value Acceptance will increase from 80% to 90% and Value Acceptance + Property Data will increase from 80% to the program limits. Check out the full details here.
FHA
HUD has published updates to their New Construction property elevation requirements where the subject property is in a Special Flood Hazard Area (SFHA). The basis of these updates is to decrease potential damage from floods, increase the safety and soundness of the property for residents, and provide more resilient communities in flood hazard areas. The change requires that the lowest floor in newly constructed structures locates within the 1 – percent-annual-chance (100-year) floodplain be built at least two feet above the Base Flood Elevation (BFE). This new elevation standard is applicable to New Construction with building permit application submission dates on and after January 1, 2025. This does NOT apply to Manufactured Homes.
See full details in Mortgagee Letter 2024-20 with the 4000.1 updates to this announcement.
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Upcoming Events and Reminders
Miss a training? You’ll find our monthly newscast and Iron Sharpens Iron recordings in the VDM Vault. Department-specific trainings are shared in their respective Seafile folders.
Don’t forget: you can find invitations on our shared calendar under What’s Happening at VDMC.net (all times posted on the What’s Happening calendar are EST)
Additional Training Opportunities
LP Update: New Look for New Submissions
The submission screen for LP has been updated – if you have a file that hasn’t had LP run yet, you may have to manually add in your credit report in order to run. Use the “New” icon to add a line for your report.
Check out the updated how-to here and reach out to Production Support with any questions.
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Payment Link – Reminder
As a reminder, please do not use the “old” credit card authorization form that collects a borrower’s full credit card number. In most cases, payment links can be sent through ValueLink. In the limited cases that we need to collect payment for an appraisal up front outside of ValueLink, please reach out to Accounting to request the form you’ll need to complete for a payment link to be sent to your borrower.
25 Points
Brain Dinsmore
Katlin Fisher
Brian Dinsmore
Brian Dinsmore
Monique Garcia
Samantha Halle
Lorella Margolis
Jeanie Nivison
Richard Nivison
Shanna Reynolds
Monique Garcia
Leslie Haggard
Tonya Herrera
Cheryl Korson 9:00am-1:00pm
Deborah Lawson
Justin McDowell
Jeanie Nivison
Richard Nivison
Shann Reynolds
Whitney Smith
Mandy Tenharmsel