 Minnesota Housing Real Estate Agent eNews on Linkedin – Ready to Share?
Are you a Minnesota Housing participating lender looking for ways to post more content on your social media platforms? Do you have a network of real estate agents you keep updated and informed about the latest programs you work with? Do those real estate agents need continuing education credits, and would their borrowers benefit knowing more information about Minnesota Housing programs?
Starting this month, February 2022, Minnesota Housing is posting our Real Estate Agent eNews on LinkedIn. The eNews contains information you can easily share on your social media platforms to spread the word about you as a Minnesota Housing participating lender, the Minnesota Housing programs you work with, and the continuing education opportunities available to your network of real estate agents.
Be sure to check our LinkedIn page for the eNews and other postings to share.
Reminder: Virtual Currency Resources
We’ve created a Virtual Currency Info Sheet to be a resource for lenders. You’ll find it in the Lender Toolkit, and you’ll also find a link to it in the DPA Comparison chart section on the Deferred Payment Loan post-closing liquid asset limit.
Here are clarifications on how to treat virtual currency with the Deferred Payment Loan post-closing liquid asset calculation and the Start Up Eligibility Income calculation.
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Deferred Payment Loan/DPL Plus Asset Limit: Include the value of virtual currency accounts in the post-closing liquid assets calculation. Borrowers will need to provide a screen shot of their online wallet or other account application showing the current balance of the virtual currency. Though the values of virtual currencies fluctuate, lenders may treat documentation of virtual currency balances as a bank statement and count the value at the time of the statement.
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Start Up Eligibility Income Calculation: We updated the Start Up Eligibility Income Worksheet to incorporate additional guidance on how to document income from virtual currency (see sections on Additional Income from an Employer and Income from Financial Assets). If the virtual currency income is taxable it must be included in the Start Up Eligibility Income Calculation, so follow the IRS guidance. See the IRS FAQs on virtual currency.
Lender Trainings: 2022 Monthly Webinars
Join Minnesota Housing for our series of monthly training webinars. The trainings will lay out the basics of our Start Up, Step Up, or Downpayment and Closing Cost Loans, how they work, what eligibility criteria is required and review how to access tools and resources to help you successfully originate loans. These instructor led trainings provide a great opportunity to ask questions. We look forward to partnering with you!
The webinars take place on Thursdays from 9:00 - 10:30 a.m. CST. Please click the links below to register:
Monthly Underwriter Call
Join us for monthly calls to review recent Minnesota Housing updates and important information to help you originate and process our loans. Please click here to register.
When you register, you will be signed up for all sessions in the series but can attend the sessions that work for you. Calls occur on the second Thursday of the month from 9:00 a.m. - 10:00 a.m. CST.
Upcoming Sessions:
- Thursday, March 10
- Thursday, April 14
- Thursday, May 12
eLearning Training Courses
Are you interested in learning more about Minnesota Housing loan programs, requirements, and how they work? The eLearning training courses are a great place to start. These self-paced training modules lay out the basics of the Start Up and Step Up programs, eligibility and income requirements, down payment and closing cost loans, and much more! To view a complete list of courses, visit the Homeownership Training page and select eLearning Courses.
Questions?
You can reach the Partner Solutions Team at 651.296.8215 or 800.710.8871 between 8:00 a.m. and 5:00 p.m. on business days.
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