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Kick Off Homebuying Season with an In-Person Training

In the March 29, 2017 eNews:

In-Person Training | April Webinars | U.S. Bank Clarifications | Contact Sheet | Questions?

You're Invited: Spring In-Person Training

Refresh your knowledge of our homeownership programs and get the latest updates from Minnesota Housing, U.S. Bank HFA Division, and representatives from Fannie Mae and Freddie Mac at our spring in-person training.

Wednesday, April 12
8:00 a.m.- 4:00 p.m.
Normandale Community College, Partnership Center | Bloomington

Customize your day by choosing any or all of the following sessions (as applicable to your role) when you register. View detailed information about each session and the intended audiences.

8:00-8:30 a.m.: Registration
8:30–9:30 a.m.: Minnesota Housing Program and Eligibility Overview
9:45–10:45 a.m.: Income Training
11:00 a.m.-12:00 p.m.: Document Training
1:00–1:50 p.m.: U.S. Bank Session
2:00–2:50 p.m.: Conventional Products Training
3:00–4:00 p.m.: Panel Discussion with U.S. Bank, Fannie Mae, Freddie Mac and Mortgage Insurance Companies

Registration is free and required for each attendee. Contact Emily Strong at 651.296.3631 with questions.

Need a Minnesota Housing Refresher?

Can't make it to the in-person training? Get the updates you need from your computer! Visit the training page and register for our April 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.
Building Better Loans: Monday, April 3 from 2:00-3:00 p.m.
Closing Better Loans: Tuesday, April 4 from 9:30-10:30 a.m.
Loan Commitment System Training: Wednesday, April 5 from 9:00-10:00 a.m.
Underwriter Conference Call: Thursday, April 6 from 9:00-10:00 a.m.
Monthly Minnesota Housing Update Call: Thursday, April 6 from 9:00-10:00 a.m.

Clarifications: Recent U.S. Bank Bulletins and Lender Operation Updates

U.S. Bank HFA Division released a number of bulletins and Lender Operation Updates in the past two weeks. Here's how they affect Minnesota Housing loans:

Tax Service Fee Reduction | Lender Operations Update L-2017-011
There is a reduction in U.S. Bank HFA Division's tax service fee:

For loans locked on or before April 14, 2017 - $85
For loans locked on or after April 17, 2017 - $58

We have updated our Lock, Fee and SRP Guide to reflect this change.

New Conventional DTI Maximum | Bulletin 2017-06
Effective immediately, the maximum debt-to-income ratio for conventional loans is 50%. We have updated our Credit and DTI Matrix to reflect this change.

Condo Guidelines Remain Unchanged | Bulletin 2017-05
Recent changes to condo guidelines do not impact Minnesota Housing loans. Minnesota Housing lenders have previously been able to commit loans for condos with up to a 97% LTV and have been able to underwrite these loans themselves. Minnesota Housing lenders can disregard the bulletin.

Minnesota Housing and U.S. Bank Contact Sheet

Not sure who to call at Minnesota Housing or U.S. Bank? Direct your question to the correct team by consulting the Minnesota Housing and U.S. Bank Contact Sheet, available on our website.

Questions?

You can 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.

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Minnesota Housing

400 Sibley Street, Suite 300 | Saint Paul, MN 55101 US