On Monday, July 6, 2020, Plaza resumed lending on FHA 203(k) renovation loans! We will continue to monitor the market and will announce plans for resuming Fannie Mae® HomeStyle®, Freddie Mac CHOICERenovation® and VA Renovation options in the future.
Plaza now accepts Remote Online Notarization (RON) for eligible Fannie Mae® and Freddie Mac purchase and refinance loans. Fannie Mae and Freddie Mac accept RON in a majority of states and where county jurisdictions accept electronic filing of closing documents. Now your borrowers can schedule an appointment to sign documents with a notary virtually, through an online recorded audio/video session.
Plaza helps you elevate the borrower experience with online appraisal payments, digital verification of assets, and more. Contact your Plaza Account Executive to make sure you’re fully leveraging the power of Plaza for your borrowers.
Plaza brokers can offer their clients the convenience of paying for their home appraisal online. Check out this short video or visit our information page to see just how easy it is to set them up for this convenient payment method.
Help your borrower get that perfect condo when it’s not in an FHA-approved complex. Now, with the Single-Unit Approval process, individual condominium units can be approved for FHA financing even when they aren’t in FHA-approved buildings or projects. It opens up more lending opportunities for you, and more selling opportunities for your agents. And Plaza is here to help you get it done!
See how Loanpal®, a national mortgage bank, successfully mitigated a $110K indemnification on a defaulted loan thanks to Plaza’s Certified Loan Program. The majority of the loss, over $87,000, was covered by the Certified Loan Program – with no upfront fee.
Plaza’s Reverse Jumbo is now available in Arizona, California, Colorado, Connecticut, Florida, Hawaii, Illinois, New Jersey, Oregon, Texas, and Utah with more states to follow soon. The Reverse Jumbo is a great option for clients in higher-value homes who want to tap into more equity than allowed by the current FHA HECM limits.