MyCommunityMortgage: Affordable Financing to Serve Low- to Moderate-Income Borrowers
MyCommunityMortgage® (MCM®) is a conventional community lending mortgage that offers underwriting flexibilities to qualified borrowers who meet specific income criteria. Learn more about this product.
Find more information on the Pricing & Execution page.
This free online tool may help identify sources of down payment assistance for your borrowers. This is a third-party website that is not managed or backed by Fannie Mae. This hyperlink is provided for lender information and convenience only, and the tool is not endorsed by Fannie Mae.
Many organizations offer home-buyer education and counseling that meet Fannie Mae’s Selling Guide requirements. Lender options to locate qualified counselors include, but are not limited to, the programs listed below.
The update introduces the Servicing Execution Tool™ (SET™) Bifurcation option for approved lenders and updates policies related to margin requirements for co-op share ARM loans; owner-occupancy requirements; ALTA short form coverage; alignment of the Selling Guide with Desktop Underwriter® messages for derogatory credit events and disputed credit tradelines; and other miscellaneous updates and changes.
Fannie Mae has updated the pricing guidelines in the Loan-Level Price Adjustment (LLPA) Matrix and Adverse Market Delivery Charge (AMDC) Information and the Refi Plus™ Mortgages Only Loan-Level Price Adjustment (LLPA) Matrix and Adverse Market Delivery Charge (AMDC) Information matrices to reflect the policy change that pertains to loan-level price adjustments and credit scores.
Access the Guide via the link below or AllRegs.com.
This comprehensive publication guides borrowers through the process of becoming a landlord.