Fannie Mae 1054 free printable template

Warranty of Condominium Project Legal Documents S U B J E C T File No Lender Name Lender Address Legal/Construction Phases Covered by This Warranty City Seller/Service No. State AK ZIP Code Project

How to fill out form 1054

How to fill out Fannie Mae 1054

1. Gather necessary documents such as property details, loan information, and borrower's personal information.
2. Begin filling out the form by entering the borrower's name and contact information in the designated sections.
3. Input the property address and financing details, including the loan amount and duration.
4. Provide information about the lender, including their name, contact details, and the loan number.
5. Fill out the sections regarding property usage, indicating whether it is primary residence, second home, or investment property.
6. Review the compliance and eligibility checklists to ensure all necessary criteria are met.
7. Double-check all entered information for accuracy and completeness.
8. Sign and date the form where required.
9. Submit the completed form along with any required attachments to the appropriate lender or Fannie Mae representative.

Who needs Fannie Mae 1054?

1. Homebuyers seeking a mortgage loan for purchasing a home.
2. Lenders offering financing solutions backed by Fannie Mae.
3. Real estate investors looking to finance investment properties.
4. Borrowers aiming to refinance their existing mortgages under Fannie Mae guidelines.

Video instructions and help with filling out and completing form 1054

Instructions and Help about form 1054

Hi everybody my name is Christopher Range director of education and training for property radar today I'm going to show you how to take action through insight as real estate professionals by qualifying buyers and sellers before you ever even meet let me give you an example by going into the dashboard at property radar and selecting the Explorer mode let's click exhibit and use an example that you are an agent in San Diego California and somebody gives you a call and says I'm selling my property in San Jose and I want to come and purchase a house in La Jolla, and we want you to represent us well that sounds like a really incredible opportunity for those of you that know La Jolla you know the price range of La Jolla — you also know that parts of San Jose can have a very economic diversified geography to them, so it's easy for you to simply say what is the zip code that you currently live in or better yet what's the address and let's say that you're able to get an address let's select an address and find out what's going on with that property for example is the information that they're giving you accurate is the estimated value actually 608 do they have a loan balance of 377 in is an estimated equity of 230 one thousand dollars enough of a down payment for these folks to buy a property in La Jolla if so now it's your job to help them find that property using our interactive property profile within the property radar application now you look like the expert now let's reverse this a little now let's say that you have a seller that you're wondering if they're actually calling you and giving you factual information let me give you an example let's use this same ZIP code in nine five one two three, and they tell you that they have a house that is got a lot of and there's no foreclosure related issues, and they want you to list the property well that's great, but it's important for you to get that property address and select that property and find out what's really going on you can see that our interactive property profile shows that it was built in 1963 for beds two baths and 1,500 square feet which is great but if you have an estimated value of six hundred seventy-eight thousand with the loan balance of six hundred and seventy-six that's not a lot of equity there it's important for you to know how much equity do these homeowners really have is the current is the house currently for sale in this case luckily it's not, and you're still going to have the ability to earn a commission always be very aware of the information that homeowners give you for example, although there is about twelve thousand dollars worth of equity in this home the property is in foreclosure meaning the notice of Trustee sale date has been set and if you scroll down you can see that the trustee sale date is set for the 30th of this month also be aware of the tooltips each time you scroll over an information item you'll have a box that gives you the information for example here it...

People Also Ask about

What type of loans are sold to Fannie Mae?

Fannie Mae is a government-sponsored enterprise (GSE) that purchases mortgage loans from smaller banks or credit unions and guarantees, or backs, these loans on the mortgage market for low-to-median income borrowers.

Does Fannie Mae purchase conventional loans?

Two years after this, Fannie Mae was approved to buy conventional mortgages in addition to Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) loans. Fannie Mae also became even less popular in 1970 when Congress created Freddie Mac to compete with Fannie Mae.

Is a condo questionnaire required on Fannie Mae?

The Condominium Project Questionnaire (Form 1076) helps lenders collect data to determine condo project eligibility. This form is optional; however, lenders are encouraged to use and retain the form in the loan file.

Is the project legally phased meaning?

A legally phased project requires that a supplement or amendment to the master deed or declaration be recorded in the public records to formally make additions to the project. Lenders are able to approve legal phases for projects provided the subject unit's legal phase meets all requirements of the Full Review process.

What is a Fannie Mae warrantable condo?

A warrantable condo is one that a homebuyer can finance using a conventional mortgage, after having been approved under a set of guidelines set by government-sponsored enterprises Fannie Mae and Freddie Mac. If you're looking to buy a condo, making sure it's "warrantable" can be vital in being able to pay for it.

What type of loans does Fannie Mae purchase?

Fannie Mae is a leading source of mortgage financing in the United States. We don't originate mortgage loans or lend money directly to borrowers. Instead, we purchase mortgage loans made by lenders, who are then able to use those funds to offer mortgage loans to more people.

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What is Fannie Mae 1054?

Fannie Mae 1054 is a form used by mortgage lenders to report and provide information regarding loans that are sold to Fannie Mae.

Who is required to file Fannie Mae 1054?

Mortgage lenders who sell loans to Fannie Mae are required to file Fannie Mae 1054.

How to fill out Fannie Mae 1054?

To fill out Fannie Mae 1054, lenders must provide detailed loan information such as borrower data, loan amounts, and property details as specified in the form instructions.

What is the purpose of Fannie Mae 1054?

The purpose of Fannie Mae 1054 is to standardize the reporting process for loans sold to Fannie Mae, ensuring accurate and consistent data collection.

What information must be reported on Fannie Mae 1054?

Information that must be reported on Fannie Mae 1054 includes borrower names, Social Security numbers, loan amounts, interest rates, property addresses, and other relevant loan details.