U.S. Bank HFA Division Fee Increase Effective November 1

U.S. Bank HFA Division Fee Increase
The U.S. Bank HFA Division Funding Fee increases to $400 for new loan commitments on or after November 1, 2015. Refer to the U.S. Bank HFA Division Lender Bulletin 2015-16, released on October 6. This increase better positions U.S. Bank HFA Division to meet higher loan volume demands.
Our fee documents reflect this change: 
Condos Permitted With Freddie Mac HFA Advantage
Effective immediately, condos are a permitted property type under Freddie Mac’s HFA Advantage. Please see the updated Freddie Mac’s HFA Advantageproduct description for eligibility guidelines. 
Revised Income Tax Return Affidavit
A revised Income Tax Return Affidavit is now available. The update directs borrowers to state the reason they did not file returns.  
Who should complete this affidavit:
  • First-time homebuyers who were not legally required to file a tax return in any of the previous three tax years must have this affidavit in their loan file.
  • The IRS requirement to file tax returns depends on gross income or other special situations. Borrowers may be claimed as dependents but may still be required to file a tax return based on income.
To be eligible for our mortgage loan programs, borrowers must either file tax returns if legally required, or complete the Income Tax Return Affidavit showing they do not need to file a return.
Register Today for In-Person Training
Join Minnesota Housing for one of our upcoming in-person trainings:
Sessions include:
  • Introduction to Minnesota Housing Programs
  • Building Better Loans – For loan officers and underwriters
  • Closing Better Loans – For processors, closers and post-closers
  • U.S. Bank Updates and Q & A
  • Homeownership for All - Advancing vibrant and diverse communities
  • Mortgage Credit Certificate (MCC) – Homebuyer Tax Credit Training
Registration is limited - click the links above to register. Questions? Contact Emily Strong at 651.296.3631.
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
powered by emma
Subscribe to our email list.