December 6, 2016 - The following updates were made in December; asset and employment validation offered through the Desktop
Underwriter® (DU®) validation service starting on December 10, 2016, introduces freedom from reps and warrants on property
value for loans with a Collateral Underwriter® risk score of 2.5 or lower effective December 10, 2016, removes the Property
Inspection Waiver fee for loans delivered to Fannie Mae on or after January 1, 2017. The fee for the DU Refi Plus™ Property
Fieldwork Waiver is also discontinued for loans delivered on or after January 1, 2017, clarifies when lenders must update
appraisers of changes to a sales contract, and and other miscellaneous updates.
December 6, 2016 - On November 23, 2016, we announced the new loan limits that will apply to loans delivered to Fannie Mae
in 2017. The purpose of this Notice is to provide an update on the implementation of the limits in Desktop Underwriter (DU®).
October 24, 2016 - The following updates were made in October; introduced the new optional DU validation service for income;
made property inspection waivers available for eligible refinance transactions; enhanced the HomeReady affordable product;
removed the project review requirements for certain detached condos; improved liquidity options through Fannie Majors and
MBS pooling parameters requirements; and other miscellaneous updates.
August 25, 2016 - The Federal Housing Finance Agency (FHFA) has announced that the Home Affordable Refinance Program (HARP)
will be extended to September 30, 2017, continuing to provide liquidity to support eligible borrowers.
July 26, 2016 - This lender letter provides you with specific information about changes to the MassHousing Mortgage Insurance
Fund requirements as well as updates to the Approved Mortgage Insurers and Related Identifiers and Approved Mortgage Insurance
July 26, 2016 - The update includes enhancements to HomeReady that provide additional flexibility and expanded options to
meet the homeownership education requirement; accept homeownership education from a Community Seconds or Down Payment Assistance
Program, if the providers are HUD-approved counseling agencies; and provide an additional homeownership education option for
borrowers who obtain customized assistance from a HUD-approved agency and a completed Form 1017.
June 28, 2016 - The update includes simplifying the way income limits are applied for HomeReady; update to the policy on self-employed
income; removal of the policy that limits refinances of restructured mortgage loans; and update to the policy on project insurance
specific to mortgagee clause.