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.
May 31, 2016 - The update includes clarifying the requirements for making modifications to single-closing construction-to-permanent
loans; update to reflect the changes to the risk factors in DU Version 10.0; policy update on lender self-report obligations
related to compliance with laws; clarifying and expanding the options for lenders in calculating student loan payment; adding
references to Condominium Project Questionnaires; and other miscellaneous updates and changes.
March 29, 2016 - The update includes enhancing the policies for financing energy improvements; simplifying the multiple financed
properties policy; removing the special lender approval requirement to deliver Texas Section 50(a)(6) loans; clarifying several
project-related flood insurance coverage requirements; and other miscellaneous updates and changes.
February 23, 2016 - The update includes eliminating the policy on continuity of obligation; clarifying lender reporting obligations
related to a breach of compliance with laws violations; use of consistent language regarding the types of losses for which
lenders must indemnify Fannie Mae; clarifying when recourse is required on HomeStyle Renovation mortgage loans; adopting a
simplier definition of relocation loans; and other miscellaneous updates and changes.