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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