The Path Insider April 2021

Compliance

Rates Cross the 5% Threshold

Mortgage rates have officially reached 5% and don’t look like they will be dropping below that mark anytime soon. Purchase mortgages averaged 5% in mid-April, up 28 basis points from 4/72% in early April, according to Freddie Mac. To compare, at this time last year, rates were 3.13%.

“This week mortgage rates averaged 5% for the first time in over a decade,” said Sam Khater, Freddie Mac’s chief economist. “As Americans contend with historically high inflation, the combination of rising mortgage rates, elevated home prices, and tight inventory are making the pursuit of homeownership the most expensive in a generation."

In case you missed it...

The latest Path release went live earlier this month. The webinar that discusses the new features and enhancements is now on-demand and can be viewed here.

Upcoming Conference

Mastermind 2022

September 21-22, 2022

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Tips & Tricks

How to Send Additional Loan Data to Fannie Mae and Freddie Mac

To complete the Fannie Mae screen:

1. Complete all applicable fields in the Community Lending/Affordable Housing section.

2. Complete all applicable fields in the Loan Information section.

3. Complete all applicable fields in the Mortgage Score section.

4. Complete all applicable fields in the AUS Information section.

NOTE: The DU Case File ID and DO Case File ID entered here will be populated on their respective tabs on the AUS screen in Interfaces.

5. Click Save.

To complete the Freddie Mac screen:

1. Complete all applicable fields.

2. To edit or enter the Reserve Amount (ULAD), click the lock icon () to enable the field. Click the icon again after you are finished.

3. Click Save.

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