Plaza News + Updates

Home Possible and USDA Program Updates

Posted by Plaza Home Mortgage on February 9, 2021
Plaza Home Mortgage

Home Possible
In alignment with the Freddie Mac Bulletin 2020-45, Plaza Home Mortgage® has updated the Home Possible® program guidelines, effective for all loans purchased on or after March 1, 2021. Specifically, this update reduces the maximum LTV from 95% to 85% for certain Home Possible Mortgages secured by 2-4-unit properties.

Our USDA Guaranteed Rural Housing program guidelines have been updated to align with HB-1-3555 in regards to validation of credit score (tradeline requirements). GUS Accept loans do not require credit score validation. GUS Refer, Refer with Caution, and Manual Underwrite loans require credit score validation.

Topics: Wholesale News, Wholesale Program Updates, National Correspondent News, Mini-Correspondent News, National Correspondent Program Updates, Mini-Correspondent Program Updates

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