Navigating the wide world of mortgage overlays

SOURCE: Mortgage News Feed

If the word “overlay” has you thinking about tablecloths or a thin veneer of gold over fine china, it’s clear you haven’t spent much time around mortgage lenders. The word “overlay” in the context of home loans refers to the mortgage approval standards that lenders and their investors place above the guidelines set by Fannie Mae, Freddie Mac, the Federal Housing Administration and the Department of Veterans Affairs.

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Each week we post articles on FHA/VA Government news topics, ranging from FHA Direct Endorsement Underwriters, to current FHA underwriting guidelines, to new FHA rules/regulations, FHA compliance, FHA lending requirements and much more! PLEASE NOTE: We are NOT owned, operated or affiliated with HUD, FHA or the Federal Government in any way.


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