FHA issued Mortgagee Letter 2019-11, reducing the maximum loan-to-value (LTV) and combined loan-to-value (CLTV) percentages for cash-out refinance mortgages. Per the Mortgagee Letter, the maximum LTV and CLTV percentages for a cash-out refinance is now 80% (rather than 85%) of the “adjusted value”. The reduced percentages apply to case numbers assigned to FHA on or after September 1, 2019.
Fannie Mae
Fannie Mae Issues Selling Guide Announcement SEL-2025-02
Fannie Mae issued Selling Guide Announcement SEL-2025-02 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae is integrating Condo Project Manager
April 3, 2025
