Mortgage Regulation changes

[Callum K.]

Does anyone have any good sites that tracks mortgage regulation changes? I keep seeing articles all over the internet discussing upcoming changes and my banker tells me that "the rules are always changing" but I am curious to find a location or two that I can find what changes are coming without having to go through all of the legislation line by line.

I guess I am looking for an expert site to help interpret upcoming legislation but not water it down for the masses like CNN, Fox, or CNBC.

Thanks!

[Jesse Gonzalez]

I'll have to echo what @Bill Gulley has said above. The CFPB's website is good, also going directly to HUDs website and searching the many mortgagee letters will give you an idea of the rules in place for FHA loans. A very good resource are fannie mae's and freddie mac's websites, you can look up the Seller Guides. The seller guides are fannie and feddie's guidelines and they're PDF's and searchable so you can get your answers quickly. The problem is that many lenders underwrite to stricter guidelines than fannie/freddie because they want multiple sources to sell the loan to. If they can't sell to fannie/freddie for whatever reason then they would still be able to sell to another secondary market investor so the question you would need to ask your loan officer is what investor specific overlays they have and you'll be able to make sure that you can still qualify. Really the best thing is to find somebody you trust and work with them.