NEW! Jumbos are Back!
Great news! We are pleased to announce a new jumbo offering available for locks on and after 07/15/2020. Key highlights are:
- Primary Residences & Second Homes
- Purchase & Rate/Term Refinance Options
- $1,500,000 Max Loan Amount
- Up to 80% LTV
- Minimum 720 FICO
Full program guidelines will be available in Knowledge Owl on 07/15. As a reminder, you must be logged into Knowledge Owl in order to access guidelines.
NEW! Jumbo Program Training Wednesday
Interested in knowing more about our new Jumbo Program? FWL will be offering a live training providing an overview of the new program on 07/15/2020 @ 3 CST.
USDA Releases Advanced Copy of Chapter 15
USDA has released an advanced copy of Chapter 15 of their handbook. The update does not include any changes to their current guidelines; however, USDA continues to eliminate duplicate information throughout their handbook. Any applicable information will be notated within FWL's guidelines in Knowledge Owl.
Refer to the Chapter 15 advanced copy for full details.
FEMA Disaster Area Declaration for Utah and Michigan
Effective immediately, FWL is implementing Fairway’s Disaster Area Appraisal and Re-Inspection requirements for both conventional and government loans. Note: As a reminder, you must be logged into Knowledge Owl to access guidelines.
The following areas in Utah have been added as a disaster area due to earthquake and aftershocks. The disaster incident period declared 03/18/2020 with an end date of 04/17/2020.
- Davis and Salt Lake Counties
The following areas in Michigan have been added as a disaster area due to severe storms and flooding. The disaster incident period declared 05/16/2020 with an end date of 05/22/2020.
- Arenac, Gladwin, Iosco, Midland and Saginaw Counties
Please Note: These are FEMA declarations and affect all loan programs.