 New Recorded Demo: Interest Credit Closing
We are pleased to announce a new recorded demo showing what to do if a borrower has an interest credit closing to make sure the first payment date on the second mortgage is correct. Click here to view the demo. The link is also available on the Commitments page of our website, along with the other system demos.
Reminder: Deferred Payment Loan Plus Eligibility Worksheet
We updated the DLP+ Worksheet to make it easier to determine whether a borrower meets the targeting criteria of a "Sole Head of Household" with at least one eligible dependent residing in the household. Our changes are specific to Sole Head of Household criteria:
- Sole Head of Household: There must be only one adult in the household that is not an eligible dependent.
- Do not use the IRS definition of "head of household."
The DLP+ Worksheet is an available resource to make sure your borrower meets the required targeting criteria. Refer to the Start Up Program Procedural Manual and the Downpayment and Closing Cost Loan Comparison Chart for guidelines. Borrowers should only use the DPL+ option if they need more assistance than is available with the standard Deferred Payment Loan.
Upcoming Lender Trainings
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, September 8
- Thursday, October 13
- Thursday, November 10
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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