HomeBridge has updated the Fannie Mae Agency and High Balance products to incorporate FNMA’s recently announced Limited Project Review enhancements. The improvements can be applied immediately to both pipeline and new submissions.
Condos in established projects for primary residences are now eligible up to 90% LTV for limited review.
Florida established projects are now eligible for enhanced CLTVs as follow: primary residence CLTV increased to 90% and second home CLTV increased to 75%.
The expanded LTVs will not be incorporated into DU messaging until a future DU release. In the interim, DU messaging requiring a full review for attached condos in established projects may be disregarded when a project is eligible for a limited review.
The Fannie Mae Agency and High Balance guidelines have been updated and posted on the HomeBridge website at www.homebridgewholesale.com.
If you have any questions, please contact your Account Executive.