Author: VanDyk Mortgage

October 16, 2025

Miss the newscast? Watch the recording here!

• Team Announcement: Welcome Tamara Range!

In case you missed it, we’re excited to share that an incredible talent has joined our VanDyk Mortgage Team — please join us in welcoming Tamara Range, our new Closing Manager! Tamara brings valuable experience and a passion for excellence to our operations, and we’re thrilled to have her on board.

Please feel free to reach out and say hello — she’s eager to connect and collaborate with everyone!

• Update to Flood Cert Automation

To reduce the number of duplicate flood certifications caused by the automation being inadvertently triggered, we will be transitioning the Flood Automation from a fully automated (“lights out”) process to a user-triggered one. This change will be active starting tomorrow (Friday, October 17).

With this change, the Flood Automation will no longer be activated based on the subject property address. Instead, it will be initiated by a checkbox on the Web Service Order Form pop-up window. Users can simply check the designated box and exit the file to trigger the Flood Certification automation. The flood cert will be ordered automatically within minutes of exiting the file.

Note that flood certifications can still be ordered manually through the Services Tab, if preferred. The automation can also be initiated by selecting the checkbox in the new pop-up window on the Borrower Summary screen.

• Closing Department Update: Rush Requests

Effective immediately, all rush (same-day) requests within the Closing Department must be directed to Tamara Range, Closing Manager.

This includes:

• Rush Initial CDs
• Rush COCs (Change of Circumstance)
• Rush Closing Documents
• Rush Fundings

Centralizing these requests through Tamara will help us identify process bottlenecks, streamline communication, and improve overall efficiency in our closing operations. Thank you for your cooperation and attention to this change!

• Process Update: Power of Attorney and Trust Closing Reviews

Effective Immediately, we are implementing a new process for the review of documents for loans closing with a Power of Attorney (POA) and/or in a Trust.

Going forward, the Underwriter will be responsible for reviewing and approving these documents directly within Encompass.

Process Steps

1. Within the Closing Request – VDMC screen:
   • As soon as the branch is made aware that a loan will be closing under a POA or in a Trust, the following fields must be completed accordingly.
2. Document Uploads:
   • All supporting documents must be uploaded to the eFolder in the appropriate buckets.
     1. 8000 (Title): Power of Attorney (POA), or
     2. 8000 (Title): Trust Documents

3. Underwriter Review:
   • The Underwriter will review the documentation and add conditions related to the Power of Attorney as applicable for both Underwriting and Closing.

Resources

Reference materials outlining the requirements for closing with a POA or in a Trust will continue to be available in Seafile.

• Reminder: Appraisal Quality and Value Concerns

We are seeing an increase in appraisal quality issues and value-related concerns. Please review the following reminders and best practices to ensure proactive communication and timely handling.

Delivery to Borrower

• Appraisals are automatically delivered to the borrower(s) within three (3) business days of receipt.
• It is best practice to have a conversation with all parties before the appraisal is received to explain:
  • They will receive a copy of their appraisal
  • They have the right to review and dispute any concerns.
  • The appraisal must still undergo underwriter review, and if risk factors are present, the value may be adjusted.
  • You (Loan Officer) will remain in communication until the appraisal has been final approved by the Underwriter.

When to Resubmit to Underwriting

• Immediately resubmit the appraisal to underwriting.
• Potential issues can be identified by reviewing the SSR (Submission Summary Reports) from Fannie Mae and Freddie Mac.

Examples of Red Flags

• High risk scores
• Overvaluation notations or warnings

Timely communication and resubmission help ensure accurate valuation, reduce rework, and maintain a strong client experience.

• 2026 License Renewals: Con Ed Information

As a reminder: all LO state licenses expire on 12/31/2025 – if you want to maintain your license(s) and renew for 2026, you must complete your Continuing Education before your renewal can be submitted. Please see the attached email reminder from Stacey Dettling regarding license renewals.

• Reminder: Brokered Loan Policy and Mortgage Loan Broker Agreement Requirement

As a reminder, on 10/1/2025 the updated Brokered Loan Policy went into effect. As part of this policy, the Mortgage Loan Broker Agreement is required to be uploaded at the time the brokered loan request is sent to Secondary. Please see this how-to for generating the form.

You’ll notice the Brokered Loan Request has been updated to include the requirement for the broker agreement form. We appreciate your help staying compliant with brokered loans!

• Pipeline Power-Up 2.0 Update

Pipeline Power-Up 2025 is in full swing, and there’s still time to jump in and catch up! If you haven’t started yet, you can use the new Bonus Survey to bank points you missed and stay in the running for our weekly, monthly, and creative prizes! Join us on Origination Nation every Monday at 12 PM EST with any questions.

• Marketing Updates
  • New content: FHA 203(K) Purchase Checklist flyers, Fannie Mae Plaza HomeStyle flyers, Safe Approval flyers, and Click n Close OTC and DPA flyers
  • Holiday Cash-Out Campaign is currently running biweekly on Wednesdays to past client databases until mid-December
• HR Updates

As Halloween approaches, it’s time to unleash your creativity and get into the spooky spirit! We’re excited to announce our Halloween Decoration Contest, where you can showcase your decorating skills for a chance to win some fun prizes! Upload your entries here by 5pm on Friday, October 31!

 

Performance Review Update: If you missed HR’s Performance Review Training, please see the attached email for reference materials. Reach out to HR@vandykmortgage.com with any questions!

Protect Yourself Against the Flu: Cold or flu? A cold comes on slowly with a sore throat, congestion, and mild aches. Flu hits suddenly with a high fever, severe body aches, and fatigue. Colds usually improve in a week, while the flu can last longer and may need antiviral meds. To stay healthy, wash your hands, avoid touching your face, and get the flu vaccine. If you’re unsure or symptoms worsen, contact your doctor. Stay informed and take action to keep yourself well!

• New Hires & Rehires: Welcome!

Jared Landez – Sales Assistant, Branch 488

Tamara Range – Closing Manager, Corporate

Scott Elgas – Loan Partner, Branch 131

Apryll Geib – Administrative Assistant, Branch 586

 

 

Agency Updates

Fannie Mae

Fannie Mae has announced the following updates to their selling guide:

1. Amended our rental income policy to allow income from an ADU to be considered towards qualifying income provided all the following requirements are met:

• The property must be a one-unit, principal residence and is limited to purchase and limited cash-out refinance transactions.
• The rental income may only be derived from one ADU even if multiple ADUs exist.
• The amount of rental income used for qualifying purposes from the ADU is limited to 30% of the borrower’s total qualifying income.

1. Rental Income reported on a Partnership or S Corporation

1. • When the borrower receives only rental income reported on the Schedule K-1, lenders must obtain the most recent one- year federal business income tax return for rental income reported on Form 8825. This aligns with documentation requirements for rental income reported on Schedule E for individual borrowers
   • Additionally, all rental income reported on partnership or S corporation returns using Form 8825 will now be classified as self-employment income, regardless of the borrower’s personal obligation on the associated mortgage
   •  If the related property is reported on the most recent federal business tax return and it’s clear the business is responsible for the payment, the full PITIA can be excluded from the DTI calculation.

1. Revised the amount of cash back allowed on all limited cash-out refinance transactions. The amount of cash back that may be provided directly to the borrower (or other recipient) may not exceed the greater of 1% of the UPB of the new loan or $2,000.

 

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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)

• Deal Desk: Every Tuesday @ 1:30pm Eastern
• Origination Nation: Every Monday and Thursday @ 12:00pm Eastern
• VanDyk Mortgage Newscast: Thursday, October 16 @ 1:00pm Eastern
• Iron Sharpens Iron: Tuesday, October 21 @ 11:00am Eastern
• Production Roundtable: Wednesday, October 22 @ 1:00pm Eastern

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25 Points

September 18, 2025

• Loan Officer University

We’re excited to share an upcoming development initiative for our sales team – more details will be coming soon, but look forward to these upcoming dates:

• 11/01 LIVE for New Hires: For Branch Managers who have inexperienced originators and want a plan to thrive
• 01/01 Phase 2: Built for $5-15 million producers in a group setting twice a month on actionable strategies
• 03/01 Phase 3: Built for $15 million and up producers or branches for strategy sessions to expand.

• Updated Soft Pull/Hard Pull Timelines

To help ensure smooth closings, please note the updated timelines for hard credit pulls to be completed:

• Purchase Transactions: Hard credit pull must be completed at least 7 days prior to closing (unless extenuating circumstances apply).
• Refinance Transactions: Hard credit pull must be completed at least 5 days prior to closing, or at the time of CD request.

Sticking to these timelines will help us avoid last-minute delays and make the process easier for everyone involved.

• Click n Close: New DPA Provider

We are excited to announce that we have partnered with Click n Close for a National DPA provider. Attached is the program matrix in preparation for the call.  Please join us for a sales training 9/24/2025 at 2pm EST. Training invite will hit inboxes soon.

• Redwood Closed End 2nds

Last month we added an additional Closed End 2nd lender, Redwood. Next Month we are going to host Redwood for a training on this new offering. Please join us on Wednesday, October 8 at 3pm EST – invitations will be sent soon!

• Brokered Loan Policy

We have updated the Brokered Loan Policy, effective October 1, 2025. Please review the policy here. Updates include reminders to upload all documentation provided to the lender, ensuring loan is in Encompass and approved by Secondary within 1 business day of registration with the lender, and ensuring timely completion of the Mortgage Brokerage Agreement for states which require this form.

• Conventional Appraisal Flexibilities Reminder

In the current lending environment, conventional files can benefit from several valuation options beyond the traditional full appraisal. Choosing the right option—and clearly communicating expectations to borrowers and Realtors—is critical for a smooth process. Check out the Conventional Appraisal Flexibilities Comparison Chart and the Conventional Appraisal Cheat Sheet and review details of these products below.

1. ACE / Value Acceptance

• What it is: A finding from DU or LPA that accepts the stated value with no inspection or third-party validation.
• When to use: This is the ideal outcome—fast, free of additional requirements, and the most cost-effective option.
• Communication tip: Confirm with the borrower that they are comfortable proceeding without third-party validation of the property’s value.

2. ACE / Value Acceptance + PDR

• What it is: The AUS accepts the value but requires a Property Data Report (PDR) inspection to confirm property condition.
• When to use: A great option when available—low cost and typically faster than a full appraisal.
• Communication tip: Immediately explain to the borrower and Realtor that an inspector (not an appraiser) will need quick access to the home, and scheduling should be prioritized to avoid delays.

3. Desktop Appraisal

• What it is: A licensed appraiser provides a valuation based on MLS data and public records. No physical inspection occurs, but a floor plan must be provided.
• Key detail: If the appraiser must obtain the floor plan themselves, the desktop option is voided and a full appraisal is triggered.
• Communication tip: Work with the Realtor or borrower to provide a floor plan up front—via realtor-created drawings, prior appraisal sketches, or a CubiCasa scan link can be sent to the borrower/Realtor. Setting expectations here prevents delays.

4. Hybrid Appraisals

• What it is: A bifurcated process where a trained inspector gathers data and photos, which are then reviewed by a licensed appraiser who completes the valuation.
• When to use: Best suited for markets experiencing extended appraisal turn times. Currently, with stable timelines, this product is not cost-effective.
• Communication tip: Only introduce this option if turn times worsen; otherwise, borrowers and Realtors may be confused as it doesn’t save cost.

 

Key Takeaway: Communication is Critical

No matter which valuation method is used, your role is to set clear expectations with both borrowers and Realtors. Make sure they know:

• Who will be coming to the property (inspector vs. appraiser).
• What information is being used to determine value.
• Why the chosen method is appropriate (cost, speed, AUS finding).

Proper communication prevents surprises, builds trust, and ensures smoother closings.

• Marketing Updates

Exciting news! Pipeline Power-Up 2.0 officially re-launches on October 1st!

This next-level version is designed to bridge the gap between marketing and sales with one clear purpose: driving real monetization for you and your business. As we head into Q4 and prepare for 2026, it’s the perfect time to set goals with your sales leaders and branch managers—and strengthen your Total Expert skills with Adam during daily office hours.

What’s new? We’re rolling out integrated surveys that let you track your progress, view your completed tasks, and measure your momentum throughout the year.

We’re thrilled to bring this program back, and we can’t wait to watch the results you create with Pipeline Power-Up 2.0!

• HR Updates

Hylant’s monthly Live Well, Work Well newsletter is available for your review here. September’s issue covers emergency preparedness, sun safety, and “September Scaries.” Check it out!

We’d also like to share the Mental Health Minute newsletter. We all know in times of physical distress, we call 911. But, what about times of mental distress? Did you know you can call 988, the Mental Health Crisis Hotline? When you call this number, you’ll be connected to one of about 200 local call centers. Trained counselors will listen, provide support, connect you to community resources, or dispatch emergency services if necessary. If local call centers are busy, you’ll be automatically directed to a national backup center. Someone will answer.

• New Hires: Welcome!

Denise Taylor – Loan Originator, Branch 204 (Rehire)

Christina Candalot – Underwriter, Corporate

Marcelino Mancha – Loan Originator, Branch 131

Rosie Camou – Loan Originator, Branch 259

Collin Anderson – Sales Assistant, Branch 401

 

 

Agency Updates

Fannie Mae

Fannie Mae has passed along the following updates in SEL-2025-07:

• The term “Appraisal Waiver” will be retired and replaced with “Value Acceptance”
• The requirement for an initial ROV disclosure has been removed
• MH Advantage product now allows for single-wide Manufactured Homes (to align with Freddie Mac)
• Clarification that a life estate is an eligible form of ownership, as long as the life tenant is a borrower

 

Freddie Mac

Freddie Mac has shared the following updates in Bulletin 2025-12:

• The LTV on 2-4 Unit Primary Purchase and No Cash Out refinance transactions has been increased to 95% (to align with Fannie Mae).
• The requirement for an initial ROV disclosure has been removed.

 

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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)

• Deal Desk: Every Tuesday @ 1:30pm Eastern
• Origination Nation: Every Monday and Thursday @ 12:00pm Eastern
• VanDyk Mortgage Newscast: Thursday, September 18 @ 1:00pm Eastern
• Production Roundtable: Tuesday, September 16 @ 3:00pm Eastern (Check out the recording and notes here if you missed it)

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In-House NonQM

When ordering an appraisal for an in-house NonQM loan, please notate this in the order notes. Our investors have exclusionary lists that the appraiser needs to be checked against – so please notate the investor in your order notes. We appreciate your help so this doesn’t get missed!

25 Points

August 14, 2025

• Welcome to the Family: Baby Kuhnle

Congratulations to Lindsey Kuhnle and her family and their new addition: baby Lylian Denise arrived July 25!

• It’s the Final Countdown… to Fly-In!

We are just a week away from our 2025 Fly-In: Power Up Your Business! From our sponsors and our industry experts to our incredible sales team and staff members joining us from across the country, this is one you won’t want to miss.  If you haven’t already, please make sure to RSVP directly to Brittany Dunkle so that we can add you to our headcount.

• New Brokered Construction Outlet: Click n Close

We are pleased to inform you that Click n Close has been added as a One Time Close Construction outlet for Government and Conventional transactions. They have been added to the broker comparison sheet.

Join us for Sales Training on Monday, August 25 at 12pm Eastern – watch your inbox for the invitation!

• Appraisal Reviews

Please remember to resubmit your loan file to Underwriting as soon as the appraisal is received. We have been experiencing delays in closings due to appraisal issues that could have been addressed earlier if reviewed promptly.

Your immediate action will help us avoid unnecessary delays and ensure a smoother closing process. Thank you for your attention to this matter!

• Seafile Updates

You may have noticed changes in the Seafile interface – we will be updating any existing job aids to reference the new look and functionality. The “Preview” feature has been intermittently available for docs – you are able to click the “Download” icon in the interim until this is fully functional.

If you’ll be joining us at Fly-in next week, we will be discussing Seafile during the “FAQ Fuel” breakout session. If you miss that, we will be hosting another training the week of August 25. Please watch your inbox for an invitation!

• Itemization of Credits

To improve transparency around the Fees and Credits shown on a borrower’s final Closing Disclosure (CD), we will begin including a new document in all final closing packages: the 2015 Itemization of Costs and Credits. This document provides a clear breakdown of all Borrower Fees, Seller Obligated Fees, Seller Credits, and Lender Credits, organized into easily understood categories. Our goal is to make it easier for borrowers to identify specific credits and better understand their fees, reducing the number of questions at closing.

This document can be added to your closing packages immediately upon request from your closer and will be automatically included in all packages starting September 8, 2025. Attached you’ll find a copy of the new document.

• LoanCare Payoff Request Instructions

There are 2 ways to obtain a payoff on one of our loans being serviced by LoanCare:

The first and preferred method is to email your request to Clientpayoffprocessing@myloancare.com with the requested good through date.

• If a netted escrow payoff is desired, that must be noted in the request or a standard payoff will be provided.
• If you have an urgent request, you can include Amber Snook amber.snook@loancare.com and our own internal servicing operations team servicingoperations@vandykmortgage.com on the request and she can help escalate it on their end.

The second option is to request it through LoanCare’s website at VanDyk Mortgage Corporation – Third Party Payoff this option will likely require third party authorization be uploaded. Download the form for third party authorization here.

• Sarma and DataVerify EPC Credit Ordering

As a reminder, we should be using the EPC version of Sarma and DataVerify at this time. You will no longer see the “old” options in Encompass starting on Monday, September 8.

If you missed our training on the updated Sarma EPC interface, please check out the recording here. A how-to guide for Sarma EPC is available here. A how-to guide for DataVerify Fraud and SSA Verifications is available here. Reach out to ProductionSupport@vandykmortgage.com with any questions.

• House Bill Update: The Good, The Bad, and The Ugly

H.R.2808 – Homebuyers Privacy Protection Act
If signed, this bill will limit the sale of trigger leads, impacting how lenders, brokers, and servicers compete for borrowers. Expect servicers to ramp up direct solicitations, making database control and timely consumer outreach more important than ever.

What it means for lenders & branches:

• Get intentional with your database: Clean up records, secure consent, and optimize credit-pull notifications now.
• Soft Pulls: Let’s review policy for submissions in this space so we can offset the cross sell timeline and opportunity since this could be more competitive in 2026 for clients. The individuals reaching out or buying their information would have a direct relationship, a client for life mentality and communication should be adopted.
• Act before rates drop: Competitive scenarios will heat up, and speed to consumer will matter.
• Recruiting opportunity: With lead sources shifting, now is a smart time to connect with brokers—especially those at NEXA-style or franchise models—before their pipelines are disrupted.
• Ask the right questions: When onboarding recruits, clarify their current lead types and ensure your marketing investments align with their production expectations since some of them may not be viable without these leads.
• Celebrate! This is a long time win but will need us to be strategic in our approach with closed and future clients as well. More to come on this before the end of month!

The bill is still pending—follow its progress and be ready to adjust when signed here: Text – H.R.2808 – 119th Congress (2025-2026): Homebuyers Privacy Protection Act | Congress.gov | Library of Congress

• Marketing/Sales Teams Channel Launch

Marketing has been launching new collateral, and we want to keep our sales team up to date! Starting August 14^th, we will be repurposing our “Marketing and Sales” Team Channel to use as a marketing launch space. We will update our sales team as soon as materials are uploaded to Total Expert and Seafile. Want to join in on the fun? Use this link to get added: General | Marketing and Sales | Microsoft Teams

• HR Updates

401(k) Information – Plan for Your Future

We’d like to bring to your attention the updated 401(k) Highlights Sheet, which includes a QR code on page 2 for easy access to valuable resources.

Venrollment.com is a new platform used by our plan’s financial advisor, Rockefeller, to give participants more tools and information about the VanDyk Mortgage 401(k) Plan. Through the QR code link, you’ll find:

• Contact information for Principal (record keeper) and Rockefeller (plan advisors)
• Short videos and educational materials to help you understand your plan and investment options
• The ability to schedule a virtual 1-on-1 meeting with a Rockefeller Private Advisor to review your personal retirement goals

Whether you want to learn more about the 401(k), adjust your contributions, or review your investment strategy, we highly encourage you to scan the QR code and explore the tools available to help plan your future retirement.

🌿 Live Well, Work Well – Taking Care of Yourself During National Wellness Month

August is National Wellness Month, a time to focus on self-care, building healthy habits, and supporting your physical, mental, and emotional well-being.

Whether it’s adding more movement to your day, making time for rest, or exploring stress-reducing activities, small changes can have a big impact.

📄 Learn more here: National Wellness Month Resources

 

• New Hires: Welcome!

James Butcher – Business Development Associate, Branch 545

Brenda Estrada – Loan Originator, Branch 265

Melissa Eligul – Loan Originator, Branch 265

Ralph Kies – Business Development Associate, Branch 261

 

 

Agency Updates

Freddie Mac

Freddie Mac has updated their Guide to allow Mortgages to be secured by single-wide CHOICEHomes. The construction elements for single-wide CHOICEHome must include:

• A covered porch (minimum 72 sq. ft.), and
• An attached carport/garage (space to accommodate one or two cars) built with materials and finishes equivalent to the primary structure

 

USDA

USDA has made the following updates to their handbook:

• Ch 4 Lender Responsibilities:
  • Revised the conflict-of-interest guidance to clarify that only employees that have a direct impact on the mortgage transaction (underwriters, appraisers, inspectors, engineers, etc.) are prohibited from having multiple sources of income from a single Rural Development transaction.
• Ch 9 Income:
  • Clarified taxable income for housing allowances should be included in annual income.
  • Added guidance for verifying previous employment.
  • Clarified IRS Form 8821 is an acceptable method to request IRS tax transcripts.
  • Clarified the number of household members must be identified in GUS.
  • Added direct third-party verifications to the options for verifying assets.
  • Clarified reserves entered into GUS must not exceed the balance on the most recent official monthly bank statement, however lenders may choose to use a lower balance at their discretion.
• Ch 10 Credit:
  • Clarified multiple Verifications of Rent may be combined to make up the required 12 month history when no gaps exist.
  • Combined the disputed accounts guidance into one section.
  • Clarified the credit report for a non-purchasing spouse is maintained in the lender’s permanent loan file.

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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)

• Deal Desk: Every Tuesday @ 1:30pm Eastern
• Origination Nation: Every Monday and Thursday @ 12:00pm Eastern
• VanDyk Mortgage Newscast: Thursday, August 14 @ 1:00pm Eastern
• Production Roundtable: Tuesday, August 19 @ 3:00pm Eastern

25 Points

June 18, 2025

• NonQM

We have officially closed our first bank statement loan in our in-house non-QM pilot program. This loan was saved from a broker after they were unable to close on the Rural property status. From first contact to close, this only took 10 days. Obviously, that is far from the norm on these, but controlling the process certainly has its benefits.

Over the next couple weeks, Patrick Sheedy is going to start reaching out to some of our top producing non-QM Loan Officers and add them to the pilot. We are still putting finish touches on our NonQM offerings, but should be ready sometime in July for everyone to start offering these products.

• Prism Update

We will soon be launching the new version of AiUW and PRISM income calculations, now known as PRISM Clear Suite. This enhanced suite retains the familiar AiUW and PRISM income functionalities, while allowing for future enhancements surrounding Indexing and OCR functionality for loan documents.

With the upgrade to the PRISM Clear Suite, our pricing structure has also changed. We are moving from a per run model to a per funded loan model. This change allows for broader use of the platform without concern for individual run costs. As a result, we now encourage users to run the PRISM Clear Suite on every file in your pipeline to fully leverage the value of these tools.

• Vista Point Home Equity Loans – Appraisals

When ordering an appraisal for a Vista Point HE Loan, please notate in your ValueLink order that it’s for this lender. Vista Point has an exclusionary list similar to Chase and Nexbank, so it’s important to note this in your order for these investors.

• Total Expert Update: HUD Approved Milestone

When your loan reaches the HUD Approved milestone prior to closing, Total Expert will be sending out an email with a video that demos the e-signing process for borrowers. The subject line will read “Ready to eSign? Here’s What to Expect.” See an example of this email below:

• Broker Comparison Chart – Where?

We’ve recently added a few more links to the Broker Comparison Chart to make it even easier to find. You can find a link in the “Need help? Who to call” post on VDMC.net,

There is also a link in Seafile – navigate to Howee Shared Docs > Products and Programs > Brokered Loans. Or just start searching in Seafile and it will pop up:

• Sarma Soft Pulls: Exciting AUS Update!

We can now run a Sarma soft pull through DU for FHA and VA files. Just be sure to update the DU submission screen to show your soft pull Sarma username and password, otherwise DU will not run:

• Sarma Credit Ordering

Speaking of credit… next month, we will be hosting a training on the updated ordering process for Sarma. This will be an updated workflow for both hard pulls and soft pulls. The trainings will be held Wednesday, July 9 at 3pm ET/12pm PT and Thursday, July 10 at 2pm ET/11am PT. Please watch your inbox for an invitation!

• If you are currently using Xactus for your credit reports, you do not need to attend. This training is specific to Sarma credit reports.

• Fly-In – Coming Soon!  

Spots are filling up fast!  Don’t miss your chance to connect with your VanDyk Mortgage crew, power up your knowledge and skills, and take your business to the next level – RSVP and book your hotel room for the 2025 VanDyk Mortgage Fly-In!

• RSVP Here
• Book Your Hotel Here

There also is a Fly-In tab located on www.vdmc.net with details. Reach out to the Marketing team if you have any questions.

• New Hires and Rehires: Welcome, and Welcome Back!

Stacey Duncan – Chief Production Manager, Corporate

Erik Voss – Production Optimization Manager, Corporate

Ashley Wiggins – Processor, Branch 350

John Dillon – Branch Manager, Branch 350

Alyssa Meyer – Loan Originator, Branch 350

Charlie Shelton – Loan Originator, Branch 350

Karen Suhre – Closer, Corporate

Carey Krein – Processor Assistant, Branch 586

 

Agency Updates

Freddie Mac

Freddie Mac is removing the requirement for W2s when documenting income for Military base (basic) pay and Military entitlements. Only a YTD Military Leave and Earnings Statement is required. Note that 1-year W2 is still required for those in the Military Reserve of National Guard.

In addition, FAQs have been enhanced for easier access on Freddie Mac’s website – check them out here: https://guide.freddiemac.com/app/guide/faqs

Fannie Mae

Fannie Mae has clarified in B2-1.3-02, Limited Cash-Out Refinance Transactions and B5-6-01, HomeReady Mortgage Loan and Borrower Eligibility: for limited cash-out refinances with LTV, CLTV, or HCLTV ratios of 95.01% – 97%, that when DU is able to identify the borrower’s existing loan is owned (or securitized) by Fannie Mae, the lender may rely on the DU finding as documentation for this requirement. There is no longer additional documentation required to be validated.

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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)

• Deal Desk: Every Tuesday @ 1:30pm Eastern
• Origination Nation: Every Monday and Thursday @ 12:00pm Eastern
• Production Roundtable: Wednesday, June 18 @ 2:00pm Eastern
• VanDyk Mortgage Newscast: Thursday, June 19 @ 1:00pm Eastern

 

LLPAs in Polly

Did you know you can see LLPA adjustors in Polly?

When running pricing in Polly, you can click the down arrow next to rates to open up the LLPA’s.

You can also click on Blue Hyperlinks to open the full LLPA matrix.

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Non-Borrowing Spouse in Community Property State

As a reminder, we can use a tri-merge soft pull to verify the liabilities of a non-borrowing spouse in a community property state.

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Product Certification: Training Opportunities

ADP houses required training for certain products, such as in-house Renovation loans, HE loans, and Buydown programs. These all have unique requirements outside of our typical agency loans, so if you are looking to originate one of these loan programs – make sure you’ve taken the training first. Email ProductionSupport@vandykmortgage.com to get enrolled, or you can self-enroll in ADP by clicking on the Myself tab, then navigating to My Learning.

Click on Browse by Topics, then pick the Production Certification group and Enroll in the course(s) of your choice.

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25 Points

May 22, 2025

Find the recording of this newscast at the VDM Vault.

• Recent Cybersecurity Threat

In case you missed this morning’s email: VanDyk has recently been targeted by a new cybersecurity attack. This new attack vector involves a coordinated attempt to overwhelm an employee’s inbox with hundreds of unsolicited emails, newsletters, and password reset requests over an extended period.

Following this disruption, the attacker may attempt to contact the employee via Microsoft Teams, impersonating a member of the VanDyk IT Department. The message typically claims the need to adjust mail filters to stop the influx of SPAM. These impersonators have used various names and always present themselves under generic titles such as “IT Department” or similar. As part of the ruse, they may request to remotely access your computer using Windows Quick Assist in order to “resolve” the issue—this is a key tactic used to gain unauthorized access to your machine.

Please be alert for two key warning signs:

1. The Teams message originates from a generic group name rather than a specific, known team member.
2. The sender’s name is marked with “(External)” – indicating they are outside our organization.

Important Reminder:

VanDyk IT will never contact you via an external Teams account, and we will never use generic accounts to initiate communication. If you receive a suspicious message, please cross-check the sender’s name in the company intranet directory and, if in doubt, start a new message thread in Teams to verify the individual’s identity.

Your vigilance is vital to keeping our systems secure. If you receive a suspicious message or experience anything unusual, report it immediately to ITHelpDesk@vandykmortgage.com and don’t forget to utilize the Report Phish or SPAM button within Outlook.

• Plaza Home Mortgage – Renovation

Just a reminder that Plaza’s 203k and Homestyle products are available in-house now! Find resources on these loans here in Seafile. As a reminder, we require training to be completed prior to originating these renovation loans. Reach out to Production Support to get this training assigned in ADP if you haven’t already completed.

• Inactivity Policy for Commissioned Employees

Please see the Inactivity Policy, which establishes the requirement for consistent paid activity to maintain active employment status.

• Appraisals Sent to Borrower

Great news: ValueLink will now send a copy of the appraisal to the borrower automatically within 3 days of completion.

• Appraiser/LO Communication

With our recent transition from our internal Appraisal Management System (AMS) to Valligent, we have experienced an increase in reports indicating direct communication between Loan Officers and appraisers.

Please be reminded that such communication is a direct violation of the Appraiser Independence Requirements (AIR). These regulations exist to protect the integrity of the appraisal process, and non-compliance can carry serious consequences for both the loan and the organization.

In our discussions with Valligent, it has been made clear that any indication of direct contact between a Loan Officer and an appraiser will necessitate the ordering of a brand-new appraisal. This not only creates additional costs but may also result in significant delays to loan closings.

To prevent disruption, it is critical that all communication with appraisers is routed through the proper channels. If you have questions about how to facilitate appraiser contact, please reach out to appraisals@vandykmortgage.com.

Thank you for your attention to this matter and for your commitment to compliance.

• Loan Status Updates: Withdrawals/Denials

In case you didn’t know: you can update your loan status from the “Update Loan Status” button on the Borrower Summary – VDMC form.  Here are some additional reminders and best practices:

• • A loan cannot be withdrawn based on communication from anyone but the borrower. In addition, we must wait 30 days to withdraw.
  • Loans cannot be denied without income documentation and a review by our Underwriting management team. If a loan hasn’t been sent to underwriting or is NOT under contract, best practice is to withdraw instead of denying.
• Product Matrix Updates

We have made updates to several of our matrices!  Minimum FICO requirements for FHA Streamlines as well as VA IRRRLs has been lifted and we have expanded debt to income ratios for VA Manual UWs!  Check out all of the exciting updates here.

• Coming Soon: Update to Sarma Credit Ordering

For those who use Sarma for credit, soon we will be launching a new interface in Encompass for credit orders. Watch your inbox for a training invitation!

• In Case You Missed It

Here’s a rundown of communications that we’ve sent since the last News:

• • USDA Manufactured: For the first time ever, USDA financing is now available for existing manufactured homes – not just new ones!  And it’s available in all states where the property meets USDA eligibility requirements. See more details in the email sent Wednesday, May 7.
  • Virtual Inspections: Valligent provides a Virtual Inspection solution for these products, which is approved for use with Fannie Mae, Freddie Mac, and FHA financing. These virtual options offer a faster turnaround time and are available at a lower cost compared to the traditional 1004D and FEMA inspections. These can be ordered through Valuelink.
• Exciting Growth Ahead – Please Welcome Patrick Sheedy!

We’re thrilled to share that BIG things are coming over the next few months! We’re in the early stages of bringing Non-QM Bank Statement and DSCR products in-house — a major step forward for our growth and capabilities.

As part of this initiative, we’re excited to welcome Patrick Sheedy to the team! Patrick brings many years of expertise in the Non-QM space and will play a key role in building out a successful path forward.

While we’re still a bit away from a full launch, we wanted to take this opportunity to introduce you to Patrick now so you can begin putting a name to a face and start building those important relationships.

Stay tuned — more updates to come as we continue building for the future!

• New Hires and Rehires: Welcome, and Welcome Back!

Meka McCaskill – LO, Branch 106

Michelle Hood – Growth Integration Manager, Corporate

Patrick Sheedy – Non-QM Lending Manager, Corporate

Carol Baic – Post Closing Specialist, Corporate

Jack Nelson – Marketing Associate, Branch 530

Augusta McAlpin – Branch Operations Manager, Branch 545

 

 

Agency Updates

Freddie Mac

Effective with LPA submissions on and after May 18, 2025, the 2025 Area Median Income (AMI) limits will apply.  In addition, the following tools and applications will be updated to reflect the updated limits:

 

• Home Possible^® Income & Property Eligibility tool(opens in new window)
• Refi Possible^® Income & Eligibility tool(opens in new window)
• Area Median Income and Property Eligibility tool(opens in new window)
• Income Limits and Affordable Check APIs

 

Freddie Mac also made updates to their selling guide – highlights below.

Employed Income:

• Base non-fluctuating employment earnings updates: 

Freddie Mac has made the following updates related to non-exempt (hourly) earnings:

• • Minor fluctuations in hours: language updated to add specificity to the intent of the existing requirements. Minor variations in base hours on paystubs (e.g., Borrower clocked out a few minutes early) are acceptable and may be treated as base non-fluctuating earnings when the variation is no more than an hour per week. Minor variations do not automatically render the base earnings as fluctuating if the historical earnings support the level of pay.
  • Minimum required hours exception for primary employment: requirements added for Borrowers with base earnings that fluctuate but have a position with a minimum number of required hours. The earnings may be considered non-fluctuating, and the minimum required hours are acceptable to use for gross pay if the following requirements are met:
    • Written documentation from the employer confirming the minimum required hours (i.e., written verification of employment, offer letter or equivalent documentation)
    • The documented minimum required hours must be supported by year-to-date (YTD) income and prior year, as applicable. Only the minimum required hours may be considered non-fluctuating. The requirements for fluctuating employment earnings apply to any additional hours used to qualify the Borrower.

 

• Base fluctuating hourly employment earnings – calculation method updates

Freddie Mac has made the following updates related to calculation methods:

• • Specified that the base fluctuating hourly earnings must be averaged over the most recent year(s) and YTD income, with examples
  • Added exception language for when a Seller may average using less than the most recent year(s) and YTD income, with examples

 

Pension Income:

When Internal Revenue Service Form 1099 is used to document current receipt and verifies income type and source, for existing and established pension income, the age of documentation requirements in Section 5102.4 do not apply.

 

Tax-Exempt Status of Child Support Income:

Freddie Mac is no longer requiring that Child Support Income be documented as Tax-Exempt.

 

Fannie Mae

As with Freddie Mac AMI 2025 Limits being updated effective May 18, 2025, Fannie Mae is making a simultaneous update for DU Casefiles created on and after May 18, 2025.  DU Casefiles created before this date will continue to observe the 2024 AMI Limits.

Fannie Mae and Freddie Mac are also aligning updates regarding Interested party contributions and lender incentives – see Fannie Mae SEL-2025-3 for details.

IPCs:

• Clearer definitions of IPCs.
• A new list of items that are not subject to maximum financing concessions (formerly “IPC limits”).
• Clarified a realtor rebate, not applied to the transaction (for example, not used towards closing costs), must be treated as a sales concession, regardless of when the rebate is provided.

Lender Incentives:

• Clarified arrangements subject to the lender incentive policy include cash, cash-like gifts, or items of value which may be provided directly by a lender to a borrower or through a third-party on behalf of the lender.
• Revised the requirement that when a lender who is, or is affiliated with, an interested party, provides an incentive, it must be treated as a sales concession.

 

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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)

• Deal Desk: Every Tuesday @ 1:30pm Eastern
• Origination Nation: Every Monday and Thursday @ 12:00pm Eastern
• VanDyk Mortgage Newscast: Wednesday, May 14 @ 1:00pm Eastern
• Iron Sharpens Iron: Tuesday, May 20 @ 11am Eastern
• Production Roundtable: Wednesday, May 21 @ 2:00pm Eastern

Upcoming USDA Training: USDA will be hosting a training session all about GUS. Topics include: understanding GUS underwriting recommendations, uploading required documentation, reviewing common GUS error messages, and contacting their help desk. Don’t miss this one! Thursday, June 12 at 2pm Eastern/11am Pacific. Register here.

 

 

Broker Loan Process: Updated

As a reminder, brokered loans must be moved to the Docs Rcvd (BKD) milestone in order to notify the Production Support team that the loan has closed and a QC review is needed.

To accommodate increased brokered loan volume, the Broker Loan Process has been updated to specify that loans must be submitted for QC review 72 hours prior to payroll cutoff in order to be paid within the current pay period.  Please refer to the Payroll Calendar in the HR Seafile for cutoff dates (in yellow).

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AllRegs Reminder

With our access to AllRegs restored, we now have access to investor libraries including Chase, Lakeview, Citi, Penny Mac, Redwood Trust, Truist, and our MI partners. Check them out!

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25 Points