Announcement

05.26.23 [2023-36] Disaster Policy Update - California

Announcement 2023 - 36

 

 

Disaster Policy Update – California

 

<California Storm and Weather>

 

Federal Emergency Management Agency (FEMA) announced a Major Disaster for the counties in California listed below due to recent severe storms, flooding, landslides and mudslides. Effective immediately, loans in the following counties are temporarily suspended until further notice.

 

Reference: FEMA Announcement

 

Kern (Added 2/21/2023) Re-inspection required
Mariposa (Added 2/21/2023) Re-inspection required
San Benito (Added 2/21/2023) Re-inspection required
Tulare (Added 2/21/2023) Re-inspection required
Tuolumne (Added 2/21/2023) Re-inspection required
Monterey (Added 2/21/2023) Re-inspection required
Santa Cruz (Added 2/21/2023) Re-inspection required
San Bernardino (Added 4/14/2023) Re-inspection required
Madera (Added 5/3/2023) Re-inspection required
Mendocino (Added 5/3/2023) Re-inspection required
Mono (Added 5/3/2023) Re-inspection required
Butte (Added 5/25/2023) Re-inspection required

 

 

We will continue to monitor FEMA announcements and add or remove any additional area as needed.

 

In response to the potential damage caused by the event listed above, MK Lending requires Disaster Re-inspection for listed areas.

05.25.23 [2023-35] Memorial Day Holiday Hours

Announcement 2023 - 35

Memorial Day Holiday Hours

Please see below for Memorial Day holiday hours:

  • May 26th, 2023 (Friday): 8:30AM – 5:30PM (Lock & Funding cut-off at 11AM PDT)
  • May 29th, 2023 (Monday): Closed
  • We will re-open on May 30th, 2023 (Tuesday)

05.17.23 [2023-34] NonQM Plus LLPA & Guideline Update

05.10.23 [2023-33] FHFA - DTI LLPA Rescinded

Announcement 2023 - 33

 

 

FHFA – DTI LLPA Rescinded

MK Lending is aligning with the recent Agency announcements. The announcements are summarized below with a link to the Agency’s full announcement.

Agency: Federal Housing Finance Agency (FHFA)

Effective Date: 5/10/2023

Agency Announcement: FHFA Announces Rescission of Enterprise Upfront Fees Based on Debt-To-Income (DTI) Ratio

Summary: Rescinding the DTI loan-level pricing adjustments (LLPA) from Fannie Mae’s and Freddie Mac’s pricing grid updates in January that was scheduled to take effect on August 1, 2023. 

05.03.23 [2023-32] Disaster Policy Update - California

Announcement 2023 - 32

 

 

Disaster Policy Update – California

 

<California Storm and Weather>

 

Federal Emergency Management Agency (FEMA) announced a Major Disaster for the counties in California listed below due to recent severe storms, flooding, landslides and mudslides. Effective immediately, loans in the following counties are temporarily suspended until further notice.

 

Reference: FEMA Announcement

 

Kern (Added 2/21/2023) Re-inspection required
Mariposa (Added 2/21/2023) Re-inspection required
San Benito (Added 2/21/2023) Re-inspection required
Tulare (Added 2/21/2023) Re-inspection required
Tuolumne (Added 2/21/2023) Re-inspection required
Monterey (Added 2/21/2023) Re-inspection required
Santa Cruz (Added 2/21/2023) Re-inspection required
San Bernardino (Added 4/14/2023) Re-inspection required
Madera (Added 5/3/2023) Re-inspection required
Mendocino (Added 5/3/2023) Re-inspection required
Mono (Added 5/3/2023) Re-inspection required

 

 

We will continue to monitor FEMA announcements and add or remove any additional area as needed.

 

In response to the potential damage caused by the event listed above, MK Lending requires Disaster Re-inspection for listed areas.

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