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Announcement SEL-2016-09: Selling Guide Updates
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.
Selling Notice: 2017 Loan Limit Implementation in Desktop Underwriter
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®).
Lender Letter LL-2016-05: Confirmation of Conventional Loan Limits for 2017
Information on the 2017 general and high-cost area loan limits and updated resources are available. The loan limits increase for the first time since 2006.
Announcement SEL-2016-08: Selling Guide Updates
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.
Announcement SEL-2016-07: Selling Guide Updates
August 30, 2016 - Describing the Independent Dispute Resolution (IDR) process: The IDR framework, announced earlier this year, is now incorporated into the Selling Guide along with other updates.
Selling Notice: Extension of DU Refi Plus and Refi Plus
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.
Lender Letter LL-2016-04: Mortgage Insurance Updates
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 Forms lists.
Announcement SEL-2016-06: Selling Guide Updates
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.
Selling Notice: HomeReady Income Limits 2016
July 12, 2016 - The 2016 HomeReady Income Limits will be available on July 16, 2016.
Announcement SEL-2016-05: Selling Guide Updates
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.
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