Bulletins

NOTICE TO BROKERS   FLCBank Compensation Policy and Changes to Compensation  FLCBank allows adjustments to compensation once a quarter; four total adjustments per calendar year. Any requests submitted on the wrong form or without a reason included will not be accepted. Upcoming Compensation Adjustment Date: To make an adjustment your ...

NOTICE TO CORRESPONDENT CUSTOMERS Important Reminder Regarding LPA Estimated Property Values Procedure FLCBank would like to remind customers of Freddie Mac’s new requirement we announced via FLCBank Bulletin #2024-AC-010 on May 17, 2024, requiring Loan Originators/Lenders to have written procedures in place outlining the process when determining the estimated property ...

NOTICE TO NON-DELEGATED CORRESPONDENT CUSTOMERS Important Reminder Regarding LPA Estimated Property Values Procedure FLCBank would like to remind customers of Freddie Mac’s new requirement we announced via FLCBank Bulletin #2024-AC-010 on May 17, 2024, requiring Loan Originators/Lenders to have written procedures in place outlining the process when determining the estimated ...

NOTICE TO BROKERS Important Reminder Regarding LPA Estimated Property Values Procedure FLCBank would like to remind customers of Freddie Mac’s new requirement we announced via FLCBank Bulletin #2024-AC-010 on May 17, 2024, requiring Loan Originators/Lenders to have written procedures in place outlining the process when determining the estimated property value ...

NOTICE TO NON-DELEGATED CORRESPONDENT CUSTOMERS New Tax Transcript Vendor and IRS Form 8821 FLCBank has a new vendor for obtaining tax transcripts for loans in process and for quality control purposes.  Two new forms will be added to FLCBank prepared disclosure packages.  These forms are the 7216-Halcyon Consent Form and ...

NOTICE TO BROKERS New Tax Transcript Vendor and IRS Form 8821  FLCBank has a new vendor for obtaining tax transcripts for loans in process and for quality control purposes.  Two new forms will be added to FLCBank prepared disclosure packages.  These forms are the 7216-Halcyon Consent Form and the Form ...

NOTICE TO NON-DELEGATED CORRESPONDENT CUSTOMERS Uniform Collateral Data Portal (UCDP) Appraisal Sharing The Appraisal Sharing functionality via the Uniform Collateral Data Portal (UCDP) designed by Fannie Mae and Freddie Mac, enables lenders to easily share appraisal information with their aggregators/investors. In 2016 Fannie Mae rolled out the ability for Correspondent ...

NOTICE TO ALL CUSTOMERS Important Credit Updates FLCBank is announcing several important updates related to Freddie Mac Income Updates and VA IRRRL required documentation. Freddie Mac Income Updates Freddie Mac announced in Bulletin 2023-22  specificity to employment income history, earnings types, and income calculation requirements for borrowers with employed income ...

NOTICE TO CORRESPONDENT CUSTOMERS   Credit Updates, Best Practices and Lender Responsibility Reminders Freddie Mac Income Updates Freddie Mac announced in Bulletin 2023-22  specificity to employment income history, earnings types, and income calculation requirements for borrowers with employed income; furthermore, Freddie Mac also reminds lenders of the importance and requirement ...

NOTICE TO BROKERS   Home Possible and HomeReady Guidelines with VLIP $2,500 Grant Effective Tuesday April 9, 2024, FLCBank will offer to Very-Low-Income Purchase (VLIP) Borrowers, a $2,500 Credit Grant to be used towards the down payment and/or closing costs and pre-paid items of the purchase of a primary residence ...

NOTICE TO CORRESPONDENT CUSTOMERS   Home Possible and HomeReady Guidelines with VLIP $2,500 Grant Effective with loans delivered to FLCBank on or after Tuesday, April 9, 2024, HomeReady and Home Possible Mortgages with the $2,500 Grant for Very-Low-Income Purchase (VLIP) are eligible for purchase. FLCBank will refund the $2,500 credit ...

NOTICE TO NON DELEGATED CORRESPONDENT CUSTOMERS Home Possible and HomeReady Guidelines with VLIP $2,500 Grant   Effective Tuesday April 9, 2024, FLCBank will offer to Very-Low-Income Purchase (VLIP) Borrowers, a $2,500 Credit Grant to be used towards the down payment and/or closing costs and pre-paid items of the purchase of ...

NOTICE TO CORRESPONDENT CUSTOMERS   IRS Form 4506-C to Validate Borrower Income Documentation Reminder   FLCBank reminds its Correspondent Customers of the requirement to have each borrower whose income (regardless of income source) is used to qualify for the loan to complete and sign a separate IRS Form 4506-C at ...

NOTICE TO NON-DELEGATED CORRESPONDENT CUSTOMERS Conventional Condominium Review Process Change Did you know when the HOA or management company returns the condominium questionnaire that does not answer questions related to special assessments, critical defects, and significant deferred maintenance or states the information is unknown, or not applicable, lenders are still ...

NOTICE TO BROKERS Conventional Condominium Review Process Change Did you know when the HOA or management company returns the condominium questionnaire that does not answer questions related to special assessments, critical defects, and significant deferred maintenance or states the information is unknown, or not applicable, lenders are still required to ...