[ The latest news for Minnesota Housing homeownership lender partners ]
Important TRID Updates
In November 2015, Minnesota Housing temporarily allowed lenders to charge a nominal fee to facilitate compliant disclosure of Deferred Payment Loans.
Effective for all loans originated on or after January 1, 2018, Minnesota Housing prohibits lenders from charging fees to the borrower other than standard recording fees, conservation fund fees, and transfer taxes/fees on downpayment and closing cost loans. 
A servicing fee of $175 is still required on Monthly Payment Loans.
In response to the release of the final TILA RESPA Integrated Disclosure (TRID) rule, Minnesota Housing has revised its TRID and Minnesota Housing Downpayment Loans guidance:
  • Lenders may implement the revised disclosure options immediately.
  • All loans originated on or after January 1, 2018 must comply with the revised guidance.
  • Deferred Payment Loan disclosure options have changed.
  • Monthly Payment Loans disclosure options remain the same.
  • See TRID and Minnesota Housing Downpayment Loans guidance document for details.
Reminder: Rochester and Mankato Home Mortgage Trainings
Rochester and Mankato area partners: Join us for an upcoming in-person home mortgage training to brush up on your Minnesota Housing knowledge and skills.   
Each session will cover borrower eligibility for Start Up, Step Up and downpayment loans and the forms and documents needed to close these loans. Loan officers, underwriters, processors, closers and post-closers are all encouraged to attend.
Registration is free and required for each attendee. We hope to see you there! 
Questions? Contact Nicola Viana at 651.297.9510.
Mortgage Credit Certificate Program Still Available 
Mortgage Credit Certificate (MCC) Program funds are still available. Loans must be locked by December 18, 2017 and must close by December 31, 2017 to be eligible. 
If you need a refresher on the MCC Program, check out the MCC Recorded Training and the MCC Lender Guide
For help on how to evaluate whether the MCC might be a good option for your borrower, or for any other questions about MCCs, please contact MCC Program Manager Kirsten Partenheimer at 651.297.3656.
November Webinars
If you are new to our program or just need a refresher, please visit our training page and register for our November Webinars: 
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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