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Information for Single-Family Lending and Real Estate Professionals
 
Program Announcement

August 2, 2016
FANNIE MAE ANNOUNCEMENT: Changes to HFA Preferred Conventional Loan Product

As of July 26, 2016, Fannie Mae made enhancements to the HomeReady Loan Product that apply to the HFA Preferred Product.

Important Change: Allow the occupant borrowers on a HFA Preferred loan to own other residential properties.

The changes are included in our program manuals which can be found at the following link: http://wshfc.org/sf/appendixIII.pdf

Please review our manual changes in their entirety.

Here is also a link to Fannie Mae’s announcement:
https://www.fanniemae.com/content/news/carlos-perez-announcement-2016-06-updates-072616.pdf

Thank you for your participation in our programs.

Please contact Corinna.obar@wshfc.org if you have any additional questions.