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On Q Financial – TPO – Credit Policy – Equifax Coding Issues

Effective Immediately Equifax Inc. experienced a coding issue that may have resulted in errors to consumer credit scores and credit data reported during the period of March 17 through April 6, 2022.  Although this coding error may not have impacted your organization, we are requesting that each of our clients […]

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Wholesale – Credit Policy – Revised Overlays

Effective Immediately On Q Financial, Inc. has updated our overlays to add, remove and clarify certain scenarios. Below is an overview of the chang...

Correspondent – Credit Policy – Revised Overlays/Selling Guide Update

Effective Immediately On Q Financial, Inc. has updated our overlays to add, remove and clarify certain scenarios. Below is an overview of the chang...

TPO – Credit Policy – Freddie Mac Bulletin 2022-5

Effective March 2, 2022 This notification is to identify that On Q Financial, Inc. will align with all updates issued in Freddie Mac’s Bulletin 202...

CORRESPONDENT – Credit Policy – UCD Critical Edits Phase 2 Rev.

Effective March 31, 2022 Updated March 17, 2022 Starting July 31, 2021, Fannie Mae and Freddie Mac began converting certain UCD edits from “warning...

CORRESPONDENT – Selling Guide Revisions – Servicing Updates/Payment Options

Effective 3/1/2022 This notice is to identify NEW changes within the On Q Financial, Inc. Selling Guide. On Q Financial, Inc.’s Selling Guide revis...

Credit Policy – Freddie Mac Desktop Appraisal Bulletin 2022-2

Effective 3/6/2022 Freddie Mac announced on Feb. 2, 2022 the option to use a desktop appraisal in lieu of an interior and exterior inspection appra...

TPO – Credit Policy – COVID Conventional Self Employment Updates

Effective Date 02/02/2022 Fannie Mae Lender Letter 2021-03 (updated 2.2.22) and Freddie Mac Bulletin 2022-03 identified that both agencies are reit...

TPO – Credit Policy – Freddie Mac Refi Possible Update

Effective Date 01/31/2022 Freddie Mac identified in Bulletin 2021-33 that the Refi Possible product will expand the eligibility requirements effect...

TPO – Credit Policy – FNMA Desktop Underwriter (DU) Version 11.0 March Update

Effective 03/19/2022 Fannie Mae announced on Jan. 19, 2022 the release of Desktop Underwriting (DU) Version 11.0. The changes in the release will a...

CORRESPONDENT – Credit Policy – FNMA Single Close Construction Deadline

Effective 1/31/2022 On May 26, 2021, Fannie Mae released LL-2021-11 Loan Eligibility Under the Preferred Stock Purchase Agreement and Revised Gener...