Loan impact
Summarized from the announcement · verifiedApplies to: Agency loan deliveries evaluated for credit score models, along with non-agency loans subject to prepayment penalties and transactions utilizing remotely notarized powers of attorney.
Scope differs by change; see each change below.
- Addressed to
- Lakeview correspondent sellersFrom the publisher, not quoted from the text
- Investor
- LakeviewFrom the publisher, not quoted from the text
- Affected area
- Credit score model
- Affected documents
- Credit report; power of attorney
- Applicability confidence
- Verified: every row taken from the source text is supported by it; rows marked "from the publisher" are not quoted
Summary by AWACS. Lakeview Correspondent's guide is proprietary, so AWACS does not reproduce its text. Read the official announcement ↗ (opens in a new tab)
What changed
Summarized from the announcement| Requirement | Previously | Now |
|---|---|---|
| Credit scoring model eligibility on agency loan productsTightenedRequired | Not stated | Classic FICO credit score models remain required for loan deliveries. |
| Relocated manufactured home eligibility under Freddie Mac guidelinesClarified | Not stated | Mortgages secured by manufactured homes relocated from another location remain ineligible. |
| Applies when: Manufactured moved | ||
| Prepayment penalty restrictions on Minnesota non-agency mortgagesRelaxed | Not stated | Originators are permitted to include prepayment penalties on designated non-agency loans in Minnesota. |
| Applies when: State is MN | ||
| Acceptance of remote online notarization for powers of attorneyRelaxed | Previously: Guides mandated notarized powers of attorney without detailing acceptance of electronic remote notarization. | Powers of attorney executed using remote online notarization are officially accepted. |
| Applies when: Ron | ||
| Adoption of updated Fannie Mae appraisal and rental income rulesClarified | Not stated | Guidelines are updated to align with Fannie Mae policies on rental income and appraisal definitions. |
| Adoption of Freddie Mac automated income assessment standardsClarified | Not stated | Guidelines are updated to align with Freddie Mac policies on written employment verification and tax data assessments. |
What to do
AWACS interpretation · not source languageWhat to review: Review agency loan delivery requirements immediately to ensure adherence to mandatory Classic FICO credit scoring models, along with new flexibilities regarding Minnesota prepayment penalties and remote online notarization for powers of attorney.
Ensure that all agency loan deliveries immediately utilize Classic FICO credit score models.
QC implications
- Sample agency loan files to confirm credit scores are generated exclusively using Classic FICO models.
- Verify that any Minnesota non-agency loans containing prepayment penalties comply with governing federal, state, and local legal standards.
- Audit loan files utilizing powers of attorney executed through remote online notarization to ensure proper execution.
Source and record
Version 1 · archivedChecks
Source verified: Passed
The document ID, link and publication date match the official source.
Quotes match the source: Passed, adjusted automatically
Every quoted passage appears word for word in the official document.
- A detail the source does not support was removed or adjusted
Requirements backed by the source: Passed
Anything marked required is backed by the requirement language and dates in the source.
In scope: Passed
The document is about residential mortgage lending.
Format and labels: Passed
The record follows the AWACS format and uses its standard labels.
Source
- Credit Policy Announcement C2026-25 (official) ↗ (opens in a new tab)
- Archived copy, SHA-256 05f8a93ebfc9…
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