|10/13/2014: Columbus Day|
| ||The First National Bank of Trenton will be closed on Monday, October, 13, 2014 in observance of Columbus Day. Thank you! |
|09/01/2014: Labor Day|
| ||The First National Bank of Trenton will be closed on Monday, September 1, 2014 in observance of Labor Day. Thank you!|
|07/04/2014: Independence Day|
| ||The First National Bank of Trenton will be closed Friday, July 4, 2014 in obvervance of Independence Day. Thank you!|
|05/26/2014: Memorial Day|
| ||The First National Bank of Trenton will be closed on Monday, May 26, 2014 in observance of Memorial Day. Thank you!|
|01/21/2014: WEBINAR Dates for ATR & QM and 1/21/2014 and 1/23/2014|
| ||Check your e-mail for a January 2014 "WEBINAR INVITATION". The First Natiional Bank of Trenton - Mortgage Division will be providing webinars in January 2014. Guidance related to CFPB's Qualified Mortgage/Ability to Repay. |
|01/01/2014: Updated Forms for ATR/QM|
| ||ATR/QM Forms have been added to Guidelines and Forms. 1) Loan Underwriting Submission Checklist. 2) Appraisal Acknowledgement. 3) Homeownership Counseling Disclosure. 4) Discount Points Disclosure.|
|04/11/2012: FHA Delays New Guidance|
| ||FHA Single Family Delays Implementation of New Guidance on Disputed Accounts
FHA is delaying the effective date of the following topics from ML 2012-03:
• Handling of Disputed Accounts, Public Records FHA Total User Guide Chapter 2, and
• Handbook 4155.1 4.C.2.e, Paying off Collections and Judgments.
The new effective date of this section is delayed until July 1, 2012. Prior to the effective date, FHA intends to seek additional input on this section and work to clarify guidance, as appropriate.
With this extension, any case numbers assigned prior to July 1, 2012 are subject to the previous guidance in effect for the subject topics.
Mortgagees who assigned case numbers between April 1, 2012, and April 8, 2012, will not be deemed to be in violation of HUD requirements, if the case numbers were processed in accordance with either the old or new guidance in the notice.
|10/21/2011: 3-4 Unit Properties|
| ||Effective Immediately, FNBT will no longer allow 3-4 unit properties for any type of loan. Thank you!|
|07/18/2011: New Eligible States|
| ||The First National Bank of Trenton will start accepting loans in the states of: Arkansas, Oklahoma, Louisiana and New Mexico (in addition to Texas) starting Monday, July 18, 2011. If you are an existing Broker or Correspondent and would like to conduct business in these states, we will need proof of proper licensure and an email request for approval. The rate sheet will reflect state adjustments if applicable for each of these states and Loan Score will be updated as well. Please feel free to contact you Account Executive or myself should you have any questions. We appreciate your business!|
|04/18/2011: Texas (a) 6 3% Calculation|
| ||Lending Bulletin
Re: Texas (a)6 Cash Out 3% Calculations – Reg.Z
Lender Paid Scenarios
Compensation paid from the lender to the broker is not a charge to the client. It would not be reflected as a charge to the client on the HUD-1 but a POC from lender to broker. The argument that it is built into the rate is true but it is prepaid interest which is exempt from the 3% calculation. Lender paid compensation has no effect on the 3% calculation.
Borrower Paid Scenarios
Broker Fee paid by borrower $3000.00 Premium Credit from Above Par rate= $3000.00 Net Fee from Borrower on HUD -1 is $0.
Conclusion. The 3% calculation for Texas A6 would not include the $3000.00charge paid by the borrower to the broker, because the HUD-1 figure would be $0.
Broker Fee paid by borrower $3000.00. Premium Credit from Par rate= $0.00. Net Fee from Borrower on HUD -1 is $3000.00
Conclusion. The 3% calculation for Texas A6 would include the $3000.00 charge paid |
|04/06/2011: New LO Comp Rules Effective Immediately|
| ||As of today 4-5-2011, the US District Appellate Court dissolved the Stay request for a Temporary Restraining Order for implementation of LO Comp.
First National Bank of Trenton will allow loans registered no later than Wednesday April 6, 2011 (uploaded FNMA 3.2) and submitted with a signed/completed 1003 dated no later than April 5, 2011 eligible for delivery under the “Old Comp Rules”, last day to lock these loans will be May 1, 2011 and all loans to close no later than May 30, 2011. Loans submitted with a 1003 dated after 4-5-2011 and/or registered after 4-6-2011 will be subject to “New LO Comp Rules” based on the broker/owner selections.
If you have any questions regarding the implementation or selection of compensation, please contact your Account Executive.
|04/04/2011: Reg. Z Amendment- UPDATE|
| ||FNBT will continue to honor the Stay granted by the appeals court. Next update will be late Tuesday or Early Wednesday- SUBJECT TO CHANGE IF COURT RULES SOONER.|
|02/14/2011: Reg Z Amendment- Originator Compensation and Anti Steering|
| ||Go to Forms and then the folder labeled Compliance-Notices|
|12/26/2010: FHA Loans 2011- FHA Sponsorship|
| ||First National Bank of Trenton allows brokers whom are in good standing with First National Bank of Trenton to submit FHA loans for consideration.
Case numbers can be ordered by e-mailing:firstname.lastname@example.org.
Website updates will add a button on the WebPortal for ordering in the future.
For now you can use this e-mail address to request a case number. Information needed for a case number request:
Borrower Name (Last, First and Middle Initial)
Borrower Date of Birth
Borrower Social Security Number
Co Borrower Name ( Last, First and Middle Initial)
Co Borrower Date of Birth
Co Borrower Social Security Number
FNBT Loan # ( if already registered)
We look forawrd to underwriting your FHA business.
Executive Vice President
Chief Lending Officer
|07/16/2010: NEW FEE SHEET|
| ||To improve efficiency and accuracy of Closing Documents we have revised our fee sheet. Please discontinue use of the old one effective now. The new one is available for download on our site under forms.
| ||Property / Borrower Eligibility Link|
|01/29/2010: USDA - AUS|
| ||GUS- The automated Underwriting System for USDA is available to all lenders/brokers. Sign Up requires a training be attended. If you think you will originate a large quantity you should contact USDA to obtain your access and training. If you only originate a few USDA loans you may submit your file to the UW dept and we will run the finding for you.|
|12/29/2009: Fannie Mae DO Login|
| ||Click Here|
|12/23/2009: LP Login|
| ||Click Here|
|12/23/2009: New Website|
| ||Welcome to the FNBT Mortgage Portal. You now have access to Rates, Webtrac (submission, locking, pipeline, images) and Mercury(Our HVCC appraisal ordering portal). Coming soon is Business Trac (Your personal business scorecard) The best thing is you have one sign on for each of these service. We will continue to enhance our web services to provide great results.|
|12/23/2009: Website Forms/Guidelines|
| ||Useful forms and guidelines are available for your use. Please note that our fee sheet, RESPA Best Practices (Effective Jan.1 2010) and GFE Fee Calculator are available. (Note must hit caculate at bottom of Spreadsheet for formulas to update on excel forms)|
|12/16/2009: SAFE ACT |
| ||Click Here|