[The latest news for Minnesota Housing homeownership lender partners]
Mortgage Credit Certificate Program Still Available - Now with Lower Interest Rates!
The Mortgage Credit Certificate (MCC) Program is still available—likely through the end of the year! The program now has a lower interest rate to match the Start Up program rates. Don’t miss out on this great opportunity to help your fall borrowers save thousands of dollars on their taxes and earn their loyalty for years!
We estimate we will have funds through the rest of 2017, but check the MCC page for weekly updates on the estimated date we will stop accepting new MCC commitments. Loans must be locked by December 18, 2017 and must close by December 31, 2017 to be eligible.
On July 7, 2017, the CFPB published changes to the Know Before You Own disclosure rules, commonly known in the industry as the TILA-RESPA Integrated Disclosure rule (TRID). These changes go into effect October 10, 2017 and become mandatory on October 1, 2018.
In the coming weeks, Minnesota Housing will provide updated guidance on disclosing Deferred Payments Loans for loans originated on or after October 10, 2017. There will be no changes for disclosing Monthly Payment Loans.
Minnesota Housing is hiring! We are looking for a Lending Partner Customer Service Specialist to provide high-level and comprehensive problem-solving assistance to Agency business partners (lenders, real estate agents, and more) regarding Agency home mortgage, downpayment and home improvement programs. This job posting closes on Friday, September 22.
Our monthly training is back! If you are new to our program or just need a refresher, please visit our training page and register for our October Webinars:
Intro to Minnesota Housing - You can take this training on-demand in place of the monthly Webinar. View the instructions to create an eLearning account to access this training. If you already created an account click here to view your training record and take the course.