GSFA Platinum Bulletin #17-0321 - Guideline updates and enhancements

Having trouble viewing this email? View it as a Web page.     |     Request more information

Header1

 

GSFA Platinum Program Update   |   Bulletin #17-0321 |   March 21, 2017    

Enhancements to Conventional Freddie Mac HFA Advantage for GSFA Platinum Program

U.S. Bank recently announced changes to their guidelines for Freddie Mac HFA Advantage Loans that allow for expanded underwriting and reduced tax service fees.

  1. Effective immediately, condomimiums are allowed for LTVs of 97% with U.S. Bank approval in addition to meeting Freddie Mac guidelines as applicable.
    View U.S. Bank Lender Bulletin 2017-05

  2. Effective immediately, for Freddie Mac HFA Advantage Loans, a maximum DTI of 50% is allowed with DU "Approve/Eligible" and LPA Risk Class "Accept".
    View U.S. Bank Lender Bulletin 2017-06

  3. For all GSFA Platinum locks made on or after April 17, 2017, the Tx Service Fee will be reduced from $85 to $21.50.
    View U.S. Bank Lender Operations Update L-2017-011

For more information about these updates, contact GSFA at (855) 740-8422 or the HFA Hotline at U.S. Bank at (800) 562-5165, Option 2. 


Additional Resources:


Lenders and Realtors Invited to On-Site Training Events in March and April

Learn how GSFA's programs can increase your business and help more California homebuyers.

These on-site (in-person) training events are highly recommended for loan officers, originators, processors and underwriters. Content also relevant to real estate professionals.

Space is limited. Click the links below to reserve your seat today.


Questions about this bulletin? Contact Us:

Phone

Call toll-free (855) 740-8422

Email

Email info@gsfahome.org

 

If you are the branch manager or main contact responsible for

distributing program updates and training announcements to the field, please forward this information.

couple buying home

Reminder for GSFA Participating Lenders:

Work Smarter, Not Harder, with Homeownership Counseling


Buying a home presents challenges for purchasers and lenders. Now, clients that don't initially qualify for a mortgage loan under a GSFA Program have access to FREE homeownership counseling.

Lenders can link consumers with pre- and post-purchase financial counseling, in order to improve their opportunities for success as homeowners, while focusing their time and energy on working with pre-qualified individuals. 

what counseling means

Homebuyers have access to trained personnel who will answer questions, address concerns, and help them identify barriers and establish short- and long-term goals to achieve the dream of owning a home. 

For more information or to initiate services, visit www.nhn.org/nhf.


couple in front of new home

Back to Top