90-Day Extension on Effective Date of New FHA Guidance on Government Funded Downpayment Loans
The Federal Housing Administration (FHA) has officially extended the effective date for Mortgagee Letter 2019-06 “Downpayment Assistance and Operating in a Governmental Capacity” by 90 days. The extension was issued in response to legal action by the Cedar Band Mortgage Corporation seeking a temporary restraining order preventing FHA from implementing the Mortgagee Letter.
Minnesota Housing will be monitoring FHA guidance. Please proceed as usual in administering Minnesota Housing Downpayment Loan Programs.