 Important: Update the Commitment System with Loan Changes
Please be sure to update Minnesota Housing's commitment system if your loan file changes. Several changes could affect loan and program eligibility.
As a best practice, the underwriter conditions for an updated commitment before giving a clear to close on a file and verifies the information in the commitment system matches your loan file, including:
- Minnesota Housing program eligibility income and loan qualifying income
- Product and/or Program for first and second mortgages, if applicable
- Property value and loan amounts
- All borrowers or co-signers listed correctly
- Loan Officer Name and NMLS# listed
After the loan has closed:
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Complete the True and Certify process in our commitment system verifying that your loan file matches our commitment system. If the information does not match, update our commitment system with the correct information before checking the box to complete the True and Certify process. Missing this True and Certify process is one of the top loan deficiencies that delays loan purchase.
- Upload the closed loan file to the commitment system.
- Upload the closed loan file to U.S. Bank Home Mortgage - HFA Division.
If you need assistance or have any questions, please reach out to the Partner Solutions Team at 651.296.8215 or 800.710.8871 from 8:00 a.m. to 5:00 p.m. on business days.
Job Opening: Mortgage Testing Coordinator
The Mortgage Testing Coordinator will provide oversight, expertise and support to insure successful execution of Business Systems testing efforts. The person in this role would partner closely with our Single Family mortgage lending program teams. This position would also be a great opportunity for someone with testing experience and/or mortgage commitment software knowledge to build or expand their skills. This position closes at midnight on December 23. For more information and to apply, go to the Mortgage Testing Coordinator posting.
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:
Same Great Call with a New Name
The Monthly Update & Hot Topics Call (FKA the Monthly Update and Underwriter Call) is open for everyone to attend, not just underwriters. During these calls we review recent Minnesota Housing updates and important information to help you originate and process our loans. Lenders are welcome to submit questions or topics to discuss on the call. This is a great venue to have more in-depth discussion on advanced topics
Please go 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:
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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