Fannie Mae HomePath Program to be Discontinued

Fannie Mae has announced that the HomePath Mortgage program will be discontinued effective October 7, 2014.  All loans secured by a Fannie Mae REO HomePath Mortgage eligible property must have a fully executed purchase contract dated prior to October 7, 2014 to utilize the additional financing options currently available with a HomePath Mortgage (i.e. no appraisal, no MI).

Loans submitted to HomeBridge under the HomePath Mortgage program must fund and close on or before December 31, 2014.

As a reminder, a copy of the “Listing Details