Upcoming Industry Changes

Topics Description What will change Target Dates
AMI (Annual Monthly Income) The new monthly qualified income field is a total monthly income provided for borrowers on the loan.  Monthly Qualified income field on the UI.
A new notes an advisories will display if MQI was not provided and will display an annual monthly income ratio when provided for pricing and eligibility. 
Complete (late December)
DSCR Investors support DSCR ratio to determine the best product for the loan scenario. Loansifter will have a new DSCR ratio field in the expanded guidelines. This field will display when the broker selects Income Verification: Investor-DSCR.  Products today that display as title products with different DSCR ratio will now be attribute based and the product that best fits the ratio provided will display.  April 7th (ish)
Average FICO
VA Funding Fee & FHA monthly MIP premium decreasing Recently announced changes for premiums for the Up Front VA Funding Fee and the FHA MIP premium is announced to decrease

Annual MIP https://www.hud.gov/sites/dfiles/OCHCO/documents/2023-05hsgml.pdf

VA FF Tech Request with links Case: 00249553 ~ Salesforce – Unlimited Edition

Working toward early April for all of OB and Loansifter

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