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First-Generation Homebuyer Affidavit Update
The updated First-Generation Homebuyer Affidavit (version date 06.04.24) must be used for loans locked on or after June 6, 2024 and may be used for loans closed on or after June 6. We previously sent a preview of this updated form that included a section collecting the Parents’/Guardians’ names and last known address, but that section was removed from the final version of the form that became effective on June 6, 2024.
The updated First-Generation Homebuyer Affidavit is available in the Forms Guide and Glossary as a fillable form.
FHA Condo Spot Approval
Minnesota Housing has updated the Credit and DTI Matrix to reflect that lenders with delegated authority may now do FHA condo spot approvals up to 90% LTV/100% CLTV. This is applicable to Minnesota Housing loans only. Please see the Minnesota HFA Government Loan Product Guide on U.S. Bank HFA Division Allregs.
Limited Operations on Juneteenth
Minnesota Housing will have limited operations on Wednesday, June 19 in honor of Juneteenth. Minnesota Housing’s commitment system will be unavailable for new loan locks on Wednesday, June 19. Minnesota Housing will extend loans expiring on June 19 until June 20 if needed.
If you need assistance, please consult the Minnesota Housing website or contact the Partner Solutions Team at mnhousing.solution@state.mn.us or 651.296.8215. A Partner Solutions Team member will connect with you on June 20.
Job Opening: Projects & Programs Manager
Minnesota Housing is looking for a Projects and Programs Manager to lead new program development work and lead the most complex project work for the Homeownership and Home Improvement Programs Team, a dynamic team that manages over $1 Billion in annual loan production. You will develop projections related to new programs, lead collaboration on program design and implementation recommendations, and lead Request for Proposal/Procurement efforts for the team. You will support the team with data analysis and will participate in continuous improvement efforts to make our programs more user-friendly and effective at meeting borrower’s needs. And you will have the opportunity to collaborate with multiple teams to identify and implement strategies to advance our mission goal to reduce Minnesota's homeownership gap by helping more Black, Indigenous and People of Color achieve homeownership. Please see the job posting for more information. The opening will close at midnight on June 25.
Reminder: Hazard Insurance Mortgagee Instructions Update
We have added clarification to the Start Up | Step Up | Hazard Insurance Mortgagee Clause Instructions document around our mortgagee clause requirement for our Downpayment and Closing Cost Loans (DPA). Please note each Minnesota Housing DPA must have a separate mortgagee clause listed on the homeowners insurance policy.
Join Us at an Upcoming Event
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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 Training Webinars
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. These webinars also provide tips and best practices to help you successfully originate and close Minnesota Housing loans.
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 advance topics.
Please go here to register for the 2024 calls.
When you register, you will be signed up for all sessions in the series but can attend the sessions that work for you. Most calls occur on the second Thursday of the month from 9 a.m. - 10 a.m. Central time.
2024 Schedule:
- June 13
- July 11
- August 8
- September 12
- October 10
- November 14
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.
About Minnesota Housing
Minnesota Housing, the state’s housing finance agency, works to provide access to safe, stable and accessible housing Minnesotans can afford in a community of their choice. In 2023, the Agency distributed $1.85 billion in resources and served 69,500 households. Visit our website to learn more.
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