 Reminder for Lending Partners: Balloon Payment Disclosure
The Deferred Payment Loan is structured to require a balloon payment and must be disclosed as such to consumers. The applicable Minnesota Housing documents were updated in March of 2020 to clarify the balloon payment. Consult with your compliance department or legal counsel for additional information and guidance on required disclosures.
Minnesota Housing Closed for Dr. Martin Luther King Jr. Day
Minnesota Housing will be closed on Monday, January 16 in observance of Dr. Martin Luther King Jr. Day. Lenders will be unable to lock new loans from 5:00 p.m on Friday, January 13 to 10:00 a.m. on Tuesday, January 17.
Monthly 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 seeing you there!
The webinars take place on Thursdays from 9:00 - 10:30 a.m. CST. Please click the links to register:
New Series Sign-up: Monthly Update & Hot Topics Call
The Monthly Update & Hot Topics 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.
Even if you registered for the monthly calls previously, you have to sign-up again to access the next series. Please go here to register for the 2023 calls.
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.
2023 Schedule:
- Thursday, January 12
- Thursday, February 9
- Thursday, March 9
- Thursday, April 13
- Thursday, May 11
- Thursday, June 8
- Thursday, July 13
- Thursday, August 10
- Thursday, September 14
- Thursday, October 12
- Thursday, November 9
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.
|
