 Important Lender Update: U.S. Bank Address Changes
On September 8, 2023 U.S. Bank Home Mortgage released a Seller Guide Update (SEL 2023-052) announcing updates to the delivery address for original notes. This will become effective October 1, 2023. See SEL 2023-052 for details on the address updates.
We will update the Assignment of Mortgage and Endorsement of Note Instructions by October 1, 2023
Job Opening: Home Improvement Supervisor
Minnesota Housing is a mission-focused financial institution looking for a Home Improvement Supervisor who will provide work direction, guidance and support for the staff who oversee and run the Home Improvement (HI) Program, the Rehab Loan Program (RLP) and the Emergency Loan Program (ELP). The Home Improvement Supervisor is also responsible for creating and maintaining policies and procedures for the department. The Supervisor will assign staff to projects and balance the workload as new work arises and is responsible for hiring, training, evaluating, disciplining, coaching, guiding, and facilitating staff assigned to this area and its work. Please see the job posting for more information. The opening will close at midnight on September 21.
Do you enter the base or total loan amount into the Minnesota Housing commitment system?
If the upfront fee for FHA, RD or VA is financed in the loan, enter the total loan amount. When entering the total loan amount into the commitment system, the loan to value will be more than 96.5%, but the loan will still price correctly. If the borrower pays the upfront fee, then enter the base loan amount in the system.
Avoid deficiencies and the need to re-sign closing documents by verifying Minnesota Housing's commitment system matches your loan system information before closing.
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Monthly Training Webinars - Register Today!
Join Minnesota Housing for our monthly webinar series. These trainings lay out the basics of Start Up, Step Up, and our three Downpayment and Closing Cost loan options. We also offer Navigating Conventional Loans and a training specific to Income Essentials. These webinars also provide tips and best practices to help you successfully originate and close Minnesota Housing loans.
Join Us at an Upcoming Event
We partner with lenders and real estate professionals at community events throughout the state to provide information, resources, and unique opportunities to connect and empower Minnesotans to succeed in their housing goals.
Contact El Karnwie-Tuah to learn more about partnering with us at these or other upcoming events, or come and check out our booth!
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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.
Register for the upcoming 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 a.m. - 10 a.m. Central time.
Upcoming Sessions:
- 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 a.m. and 5 p.m. on business days.
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