[ The latest news for Minnesota Housing homeownership lender partners ]
Website Design
In response to suggestions made on the lender survey last winter, we modified our website, adding additional and easier access to the Interest Rate and Lender Toolkit pages, as well as reducing clicks necessary to get to screens you use most. 
Did you know?
Updating loan information in our system can sometimes impact your loan pricing (interest rate). We added additional guidance to help you determine when a loan re-pricing is required. In the Loan Summary Screen, click on the link to open a pop-up window of changes that require re-pricing. (see examples below)  
Reminder of FHA Overlays
FHA Loans (locked on or after April 6):
1. No manual underwriting allowed on FHA loans. Loans locked prior to 4/6/20 may still    use or switch to manual underwriting.
2. FHA streamline refinance no longer available. Step Up loans with lock dates prior to 4/6/20 may still use/switch to FHA streamline refinance.
3. For all FHA loans <660 FICO
  • 1 month PITIA reserves required
  • Minimum 6 months on the current job for all sources of qualifying income.
The existing FHA 650 minimum FICO score for Minnesota Housing Loans still applies. Details on the new FHA overlays can be found at Seller Guide Update 2020-026. See U.S. Bank AllRegs for all U.S. Bank requirements. 
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.
Twitter Facebook LinkedIn
powered by emma
Subscribe to our email list.