[ The latest news for Minnesota Housing homeownership lender partners ]
Updated Materials Available on the Website:

Recently we announced changes to the Fannie Mae Preferred Risk Sharing™ product, FHA loans, and new rate lock cutoff hours. Updated materials reflecting these changes are now available on our website.

For more information about the recent changes, see the April 1, 2020 eNews  and April 6, 2020 eNews announcements.
Monthly Payment Loan with Step Up Refinance Transactions

We updated the Step Up Procedural Manual to clarify eligible uses of the Monthly Payment Loan Program with Step Up Refinance transactions.  See Section 7.01 of the
Step Up Procedural Manual for details.
Minnesota Housing Remains Open for Business
Minnesota Housing remains open for business and focused on working with our partners to serve the people of Minnesota. Our staff is working remotely, but is available to assist you during our normal business hours of 8:00 a.m. to 5:00 p.m.
You can reach the Partner Solutions Team by email at mnhousing.solution@state.mn.us or by phone at 651.296.8215 or 800.710.8871 between 8:00 a.m. and 5:00 p.m. on business days.

U.S. Bank Home Mortgage—HFA Division remains open for business as well. Their fulfillment teams are working from home with no disruption in service levels. For additional information see U.S. Bank Bulletin B-2020-07 on Key Impacts and Process Updates.

Speeding up the Loan Purchase Process:
To reduce deficiencies don’t forget to complete the True & Certify Process.
  • After the loan has closed, review and verify that all information in the Minnesota Housing commitment system matches the executed note(s) and the closed loan file.
  • Once you have confirmed the information in the Minnesota Housing commitment system is accurate, on the True & Certify screen, check the Approve box and click Save to affirm that the info in the system is accurate.
  • Lastly, upload the entire closed loan package and credit file to the commitment system within two business days of True & Certifying the loan. Please refer to Page 38 of the Homeownership System Guide for instructions on uploading the entire closed loan file. 
Monthly Minnesota Housing Update & Underwriter Call
Join us monthly to review recent Minnesota Housing updates and important information to help you originate and process our loans. Click here to register for the monthly calls.

When you register, you will be signed up for all sessions but can attend the sessions that work for you. All calls occur on the second Thursday of the month from 9:00-10:00 a.m. CST. Next sessions are:

  • Thursday, May 14
  • Thursday, June 11
Critical Lender Update
We hosted a Critical Lender Update call last week (Thursday, April 2) to discuss the following topics:
  • Operations Update
  • Governor's Mandates
  • Form Updates
  • COVID-19 Impacts/FAQ's
  • Fannie Mae Preferred Risk Sharing Product Suspension
  • Rate Locks

    Visit our training web page to review this presentation and all of our other training opportunities.
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.
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