CLTs May be Underwritten through DU®

Community Land Trusts May Be Underwritten Through DU®
Community Land Trust (CLT) loans can now either be underwritten through DU® or manually underwritten. We updated the Fannie Mae HFA Preferred™ Product Description to reflect this change.   
Homebuyer Education for Freddie Mac HFA Advantage
The homebuyer education requirements for the Freddie Mac HFA Advantage are the same as for all Minnesota Housing conventional loan products:
  • If all borrowers are first-time homebuyers, at least one borrower must complete either the Home Stretch Workshop or Framework online course. Visit the Minnesota Homeownership Center for more information.  
  • Minnesota Housing borrowers do not need to take Freddie Mac’s homebuyer education course. Housing Finance Agency loans are exempt from Freddie Mac’s homebuyer education requirement.  
Consumer Information Sheet Now Available
We developed a new information sheet for consumers to explain conventional mortgage insurance. Share this resource with consumers when helping to compare their options.  This document can be found under "Resources" along with other conventional materials.
Interest Rate Page
You may have noticed the interest rate page on our website looks different now that we added Freddie Mac HFA Advantage. Please contact the Partner Solutions Team at 651.296.8215 or 800.710.8871 between 7:30 a.m. and 5:00 p.m. on business days if you have questions. 
Agency Closed for Labor Day
Minnesota Housing will be closed on Monday, September 7 in observance of Labor Day. Lenders will be unable to lock new loans between 5:00 p.m. on Friday, September 4 and 10:00 a.m. on Tuesday, September 8.
Upcoming Trainings
Questions? 

Reach the Partner Solutions Team at 651.296.8215 or 800.710.8871 between 7:30 a.m. and 5:00 p.m. on business days.
400 Sibley Street, Suite 300 | Saint Paul, MN 55101 US
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