Important: Using Automated Underwriting Systems with Minnesota Housing Loans
Please remember that automated underwriting systems do not factor in Minnesota Housing or U.S. Bank's Home Mortgage-HFA Division overlays.
Important reminders when using Freddie Mac's Loan Product Advisor® (LPA) version 5.0.06:
- Even if the Feedback Certificate shows the loan is eligible for Rep. and Warrant Relief
- U.S. Bank still requires Appraisals
- Start Up loans still require standard income documentation and bank statements for the Program Eligibility Income calculation
- Even though the messaging in LPA may include the full list of homebuyer education courses Freddie Mac will accept, Minnesota Housing will only accept the courses listed on our Homebuyer Education page.
- LPA messaging will not factor in Minnesota Housing or U.S. Bank overlays on manufactured housing.