Fannie Mae updated the area median incomes (AMIs) used to determine a borrower’s eligibility for HomeReady mortgage loans and RefiNow transactions. The 2022 AMIs will
Fannie Mae issued Lender Letter LL-2019-06, amending income eligibility requirements for HomeReady loans. Per the Lender Letter, to be eligible for a HomeReady loan, a
Fannie Mae updated the area median incomes used to determine a borrower’s eligibility for HomeReady mortgage loans. The 2018 HomeReady income limits will be available
Fannie Mae issued Selling Guide Announcement SEL-2016-05 (Announcement). The Announcement updates the HomeReady mortgage loan product. The updates: allow an occupant borrower of a HomeReady
Fannie Mae updated the area median incomes used to determine a borrower’s eligibility for HomeReady mortgage loans. The 2016 HomeReady income limits will be available
Fannie Mae issued Selling Guide Announcement SEL-2016-05 (Announcement). The Announcement: updates the Selling Guide to simplify the way income limits are applied for HomeReady; updates
Fannie Mae issued Servicing Guide Announcement SVC-2024-06 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae clarified requirements related to eMortgages.
FHA issued Mortgagee Letter 2024-20 implementing Federal Flood Risk Management Standards for new construction properties located in Special Flood Hazard Areas. On April 23, 2024,
Fannie Mae issued Selling Guide Announcement SEL-2024-07 (Announcement), setting forth updates to the Selling Guide. Per the Announcement, Fannie Mae: Revisions related to leasehold estates
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