VDMC.NET – Page 4

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

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.
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

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:

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.

Rental Income reported on a Partnership or S Corporation

- 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.

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)