Announcement 2025 - 08

Dear Partners,

Due to declining market over the last few months, effective 1/22/2025,

MK Lending Corp is increasing SNQ EZ 5/6 ARM interest rate by 0.375%.

Also, we are re-introducing SNQ EZ 7/6 ARM with the starting rate of 6.875%.

If you have any questions, please contact Lock Desk.

Thank you.

Announcement 2025 - 07

Brokers must request lock extension for loans that are suspended from funding due to LA wild fires.

We clarify that we cannot offer any free lock extension at the moment.

If you have any questions, please reach out to your AE.

Thank you.

Announcement 2025 – 06

In observance of Martin Luther King, Jr. Day, MK Lending will be closed on Januray 20th, 2025.

We will resume our business on the following day, January 21st, 2025.

If you have any questions, please reach out to our AE.

Max Rebate Update

Effective Thursday, 1.9.2025 MK Lending Corp will implement new max rebates for Plus, Prime and Credit programs as below to better service our partners and clients and to stay competitive in the market.

Funding temporarily suspended

 LA County

Effective immediately, MK Lending Corp will temporarily suspend funding for all loans affected by the ongoing fires in Los Angeles County, California. 

MK Lending may require a Post Disaster Inspection Report for properties that may have been affected. 

If you have any questions, please contact your AE.

 Jimmy Carter Day of Mourning

In observance of Jimmy Carter Day of Mourning, MK Lending lock cut-off will be adjusted to 11AM PST on Thursday, January 9th,2025.

All other departments will remain open during regular business hour. 

If you have any questions, please reach out to your AE.

Thank you.

Lock Cut-off Hour Change 

Happy New Year everyone!

Effective Monday, Januray 6th 2025, MK Lending will be accepting all lock requests until 3PM PST.

This not only includes Non-QM loans but also all QM loans(Agency & Government).

If you have any questions, please contact your Account Executive.

Thank you.

[2024] Veterans Day Holiday Schedule

Hello all,

We kindly note you that MK Lending Corp will be closed on Veterans Day, Monday, November 11^th, 2024.

We will be re-open on Tuesday, November 12^th, 2024.

If you have any questions, please contact your Account Executive.

Thank you.

Announcement 2024

 Disaster Policy Update – Georgia

The Federal Emergency Management Agency (FEMA) has issued a Disaster Declaration for the State of Georgia due to Hurricane Helene.

Reference: FEMA Announcement

Declaration Date: October 1, 2024 

Incident Period: September 24, 2024, and continuing

Designated Counties Appling, Atkinson, Bacon, Ben Hill, Berrien, Brantley, Brooks, Bryan, Bulloch, Burke, Butts, Camden, Candler, Charlton, Chatham, Clinch, Coffee, Colquitt, Columbia, Cook, Dodge, Echols. Effingham, Elbert, Emanuel, Evans, Fulton, Glascock, Glynn, Hancock, Irwin, Jeff Davis, Jefferson, Jenkins, Johnson, Lanier, Laurens, Liberty, Lincoln, Long, Lowndes, McDuffie, Mclntosh, Montgomery, Newton, Pierce, Rabun, Richmond, Screven, Stephens, Taliaferro, Tattnall, Telfair, Thomas, Tift, Toombs, Treutlen, Ware, Warren, Washington, Wayne, Wheeler, and Wilkes

If the subject property is located in one of the designated counties above and the appraisal was completed on or before September 24, 2024, or did not require an appraisal, MK Lending Corp. will require an inspection report to determine the property’s condition using one of the following:

• 1004-D with Photos

If you have any questions, please contact your Account Executive.

Announcement 2024

Disaster Policy Update – Virginia

The Federal Emergency Management Agency (FEMA) has issued a Disaster Declaration for the State of Virginia due to Tropical Storm Helene.

Reference: FEMA Announcement

Declaration Date: October 1, 2024

Incident Period: September 25, 2024 - and continuing

Designated Counties: Bedford, Bland, Bristol, Carroll, Galax, Giles, Grayson, Lee, Montgomery, Pittsylvania, Pulaski, Radford, Russell, Scott, Smyth, Tazewell, Washington, Wise, Wythe

If the subject property is located in one of the designated counties above and the appraisal was completed on or before September 25, 2024, or did not require an appraisal, MK Lending Corp. will require an inspection report to determine the property’s condition using one of the following:

• 1004-D with Photos

If you have any questions, please contact your Account Executive.

MK Lending Corp. will be open on Columbus Day

Hello all,

This is a reminder that MK Lending Corp will be open on Columbus Day, Monday, October 14, 2024 during regular business hours.

Please be noted that our lock desk and funding department will not be operating since the U.S. Bond Market will close in observance of Columbus Day. We will not issue rate sheet nor accept rate lock, lock extension and re-lock. This Federal holiday will not be included in the rescission period.

All other departments will operate normally unless otherwise indicated.

If you have any questions, please contact your Account Executive.

Thank you.

Announcement 2024

Disaster Policy Update – Georgia

The Federal Emergency Management Agency (FEMA) has issued a Disaster Declaration for the State of Georgia due to Hurricane Helene.

Reference: FEMA Announcement

Declaration Date: October 1, 2024 

Incident Period: September 24, 2024, and continuing

Designated Counties: Appling, Atkinson, Bacon, Ben Hill, Berrien, Brooks, Bryan, Bulloch, Burke, Butts, Camden, Candler, Charlton, Chatham, Clinch, Coffee, Colquitt, Columbia, Cook, Dodge Echols, Effingham, Elbert, Emanuel, Evans, Glascock, Glynn, Hancock, Irwin, Jeff Davis, Jefferson, Jenkins, Johnson, Lanier, Laurens, Liberty, Lincoln, Long, Lowndes, McDuffie, Montgomery, Newton, Pierce, Rabun, Richmond, Screven, Tattnall, Telfair, Thomas, Tift, Toombs, Treutlen, Ware, Warren Washington, Wayne, Wheeler

If the subject property is located in one of the designated counties above and the appraisal was completed on or before September 24, 2024, or did not require an appraisal, MK Lending Corp. will require an inspection report to determine the property’s condition using one of the following:

• 1004-D
• MK Lending Attestation – Disaster Form

If you have any questions, please contact your Account Executive.

Announcement 2024

 Disaster Policy – Hurricane Milton (Florida)

The Federal Emergency Management Agency (FEMA) has issued a Disaster Declaration for the State of Florida due to Hurricane Milton.

Reference: FEMA Announcement

Declaration Date: October 8, 2024

Incident Period: October 7, 2024 - and continuing

The National Hurricane Center forecasts that Hurricane Milton will cause widespread flash flooding and high winds along the western coast of Florida.

Effective Tuesday, October 8, 2024, funding for all properties across the state of Florida will be temporarily suspended. We will issue a separate notice when funding will resume.

We will continue to monitor FEMA for disaster declaration announcements and provide updates accordingly.

• MK Lending Attestation – Disaster Form

Announcement 2024

Disaster Policy Update – Florida

The Federal Emergency Management Agency (FEMA) has issued a Disaster Declaration for the State of Florida due to Hurricane Helene.

Reference: FEMA Announcement

Declaration Date: September 28, 2024

Incident Period: September 23, 2024 - and continuing

Designated Counties: Alachua, Baker, Bradford, Charlotte, Citrus, Collier, Columbia, Dixie, Duval, Franklin, Gilchrist, Gulf, Hamilton, Hernando, Hillsborough, Jefferson, Lafayette, Lee, Leon, Levy, Madison, Manatee, Pasco, Pinellas, Putnam, Sarasota, Suwannee. Taylor, Union, and Wakulla

If the subject property is located in one of the designated counties above and the appraisal was completed on or before September 23, 2024, or did not require an appraisal, MK Lending Corp. will require an inspection report to determine the property’s condition using one of the following:

• 1004-D
• MK Lending Attestation – Disaster Form

Announcement 2024

Disaster Policy Update – Georgia

The Federal Emergency Management Agency (FEMA) has issued a Disaster Declaration for the State of Georgia due to Hurricane Helene.

Reference: FEMA Announcement

Declaration Date: October 1, 2024 

Incident Period: September 24, 2024, and continuing

Designated Counties: Appling, Atkinson, Bacon, Ben Hill, Berrien, Brooks, Bulloch, Burke, Candler, Chatham, Clinch, Coffee, Colquitt, Columbia, Cook, Echols, Effingham, Elbert, Emanuel, Evans, Glascock, Irwin, Jeff Davis, Jefferson, Jenkins, Johnson, Lanier, Laurens, Liberty, Lincoln, Lowndes, McDuffie, Montgomery, Pierce, Rabun, Richmond, Screven, Tattnall, Telfair, Tift, Toombs, Treutlen, Ware, Washington, and Wheeler

If the subject property is located in one of the designated counties above and the appraisal was completed on or before September 24, 2024, or did not require an appraisal, MK Lending Corp. will require an inspection report to determine the property’s condition using one of the following:

• 1004-D
• MK Lending Attestation – Disaster Form

Announcement 2024

Disaster Policy Update – Georgia

The Federal Emergency Management Agency (FEMA) has issued a Disaster Declaration for the State of Georgia due to Hurricane Helene.

Reference: FEMA Announcement

Declaration Date: October 1, 2024 

Incident Period: September 24, 2024, and continuing

Designated Counties: Appling, Brooks, Coffee, Columbia, Jefferson, Liberty, Lowndes, Pierce, Richmond, Tattnall, Toombs

If the subject property is located in one of the designated counties above and the appraisal was completed on or before September 24, 2024, or did not require an appraisal, MK Lending Corp. will require an inspection report to determine the property’s condition using one of the following:

• 1004-D
• MK Lending Attestation – Disaster Form

Announcement 2024

Disaster Policy Update – Georgia

Federal Emergency Management Agency (FEMA) announced a Major Disaster for the counties in Georgia listed below due to Tropical Storm Debby.

Reference: FEMA Announcement

Incident Period: Aug 4, 2024 - Aug 20, 2024

Declaration Date: Sep 24, 2024

Designated Counties: Bryan, Bulloch, Chatham, Effingham, Evans, Liberty, Long, Screven

If the subject property is located in one of the designated counties above and the appraisal was completed on or before August 20, 2024 or did not require an appraisal, MK Lending Corp. will require an inspection report to determine the property’s condition using one of the following:

• 1004-D
• MK Lending Attestation – Disaster Form

Announcement 2024

Disaster Policy Update – Texas (Updated)

Federal Emergency Management Agency (FEMA) announced a Major Disaster for the counties in Texas listed below due to recent severe Straight-line Winds, Tornadoes, and Flooding.

Reference: FEMA Announcement

Declaration Date: May 18, 2024

Incident Period: April 26, 2024 to July 9, 2024

Designated Counties: Anderson, Austin, Bell, Brazoria, Calhoun, Chambers, Cooke, Collin, Coryell, Dallas, Denton, Eastland, Ellis, Falls, Fort Bend, Galveston, Guadalupe, Hardin, Harris, Henderson, Hockley, Jackson, Jasper, Jefferson, Jones, Kaufman, Lamar, Leon, Liberty, Matagorda, Montague, Montgomery, Nacogdoches, Navarro, Newton, Orange, Panola, Polk, Rusk, Sabine, San Jacinto, Smith, Terrell, Trinity, Tyler, Walker, Wharton, Van Zandt 

If the subject property is located in one of the designated counties above and the appraisal was completed on or before April 26, 2024 or did not require an appraisal, MK Lending Corp. will require an inspection report to determine the property’s condition using one of the following:

• 1004-D
• MK Lending Attestation – Disaster Form

Announcement 2024

Disaster Policy Update – Texas (Updated)

Federal Emergency Management Agency (FEMA) announced a Major Disaster for the counties in Texas listed below due to recent severe Straight-line Winds, Tornadoes, and Flooding.

Reference: FEMA Announcement

Declaration Date: May 18, 2024

Incident Period: April 26, 2024 and continuing

Designated Counties: Harris, Liberty, Montgomery, Polk, San Jacinto, Trinity, Walker, Eastland, Hardin, Jasper, Jones, Lamar, and Waller, Calhoun, Guadalupe, Cooke, Collin, Denton, and Montague

If the subject property is located in one of the designated counties above and the appraisal was completed on or before April 26, 2024 or did not require an appraisal, MK Lending Corp. will require an inspection report to determine the property’s condition using one of the following:

• 1004-D
• MK Lending Attestation – Disaster Form

Announcement 2024

Disaster Policy Update – Texas (Updated)

Federal Emergency Management Agency (FEMA) announced a Major Disaster for the counties in Texas listed below due to recent severe Straight-line Winds, Tornadoes, and Flooding.

Reference: FEMA Announcement

Declaration Date: May 18, 2024

Incident Period: April 26, 2024 and continuing

Designated Counties: Harris, Liberty, Montgomery, Polk, San Jacinto, Trinity, Walker, Eastland, Hardin, Jasper, Jones, Lamar, and Waller, Calhoun, And Guadalupe

If the subject property is located in one of the designated counties above and the appraisal was completed on or before April 26, 2024 or did not require an appraisal, MK Lending Corp. will require an inspection report to determine the property’s condition using one of the following:

• 1004-D
• MK Lending Attestation – Disaster Form

Announcement 2024

Disaster Policy Update – Texas

Federal Emergency Management Agency (FEMA) announced a Major Disaster for the counties in Texas listed below due to recent severe Straight-line Winds, Tornadoes, and Flooding.

Reference: FEMA Announcement

Declaration Date: May 18, 2024

Incident Period: April 26, 2024 and continuing

Designated Counties: Harris, Liberty, Montgomery, Polk, San Jacinto, Trinity, Walker, Eastland, Hardin, Jasper, Jones, Lamar, and Waller

If the subject property is located in one of the designated counties above and the appraisal was completed on or before April 26, 2024 or did not require an appraisal, MK Lending Corp. will require an inspection report to determine the property’s condition using one of the following:

• 1004-D
• MK Lending Attestation – Disaster Form

Announcement 2024

Disaster Policy Update – Texas

<Texas Storm, Straight-line Winds, Tornadoes, and Flooding

Federal Emergency Management Agency (FEMA) announced a Major Disaster for the counties in Texas listed below due to recent severe Straight-line Winds, Tornadoes, and Flooding.

Reference: FEMA Announcement

Declaration Date: May 18, 2024

Incident Period: April 26, 2024 and continuing

Designated Counties: Harris, Liberty, Montgomery, Polk, San Jacinto, Trinity, and Walker

If the subject property is located in one of the designated counties above and the appraisal was completed on or before April 26, 2024 or did not require an appraisal, MK Lending Corp. will require an inspection report to determine the property’s condition using one of the following:

• 1004-D
• MK Lending Attestation – Disaster Form

Announcement 2024

Disaster Policy Update – California

Federal Emergency Management Agency (FEMA) announced a Major Disaster for the counties in California listed below due to recent severe storms and flooding.

Reference: FEMA Announcement

Declaration Date: February 19, 2024

Incident Period: January 21, 2024 to January 23, 2024

Designated Counties: San Diego

If the subject property is located in one of the designated counties above and the appraisal was completed on or before January 21, 2024 or did not require an appraisal, MK Lending Corp. will require an inspection report to determine the property’s condition using one of the following:

• 1004-D
• MK Lending Attestation – Disaster Form

Announcement 2023 - 59

Fannie Mae SEL-2023-09/11 Guideline Update
We are aligning with the recent Fannie Mae announcements. The announcement is summarized below.

[Announcement 2023-58]

2024 New Loan Limits

Effective immediately, MK Lending is aligning with The Federal Housing Finance Agency’s (FHFA) new 2024 conforming and high-cost area loan limits.

Agency: Federal Housing finance Agency (FHFA)

The 2024 loan limits will be applied to DU/LP loan casefiles submitted (or resubmitted) on or after the weekend of 12/2/2023. Also note that loan casefiles underwritten through DU/LP prior to 12/2/2023 that receive an ineligible recommendation due only to exceeding the 2023 loan limit may apply the 2024 loan limit. The loan casefile does not have to be resubmitted to DU/LP if the only reason for the DU/LP ineligible recommendation is due to the loan amount, and the loan amount complies with the applicable 2024 conforming loan limit value.

Announcement 2023 - 57

We are aligning with the recent Fannie Mae announcements. The announcement is summarized below.

Agency: Fannie Mae

Agency Announcement: Responsibly Increasing Affordable Housing Supply & Access to Credit

2-4 Unit Max LTV/CLTV/HCLTV Increasing to 95% (Primary Residence – Purchase/Limited Cash-Out)

Effective Date: Beginning November 18, 2023

Summary: The maximum allowable LTV/CLTV/HCLTV increasing to 95% for 2-4 unit, primary residence, purchase and limited cash-out transactions.

Does not apply to the following:

• Cash-Out Refinancing loans
• High-Balance loans

NonQM LTV Updates

Announcement 2023 - 56

 Effective immediately, MK Lending updated following NonQM programs.