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Plaza News + Updates

FHA 203(k)s are back

Posted by Plaza Wholesale on September 10, 2020

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.

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Topics: Wholesale News, Wholesale Program Updates, National Correspondent News, FHA Loans, Mini-Correspondent News, Government Loans, Renovation Loans

Now Accepting Remote Online Notarization (RON)

Posted by Plaza Home Mortgage on September 10, 2020

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.

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Topics: Wholesale News, National Correspondent News, Mini-Correspondent News, eClosing and Digital Lending Tools

Tools for Brokers to Deliver a Digital Mortgage Experience

Posted by Plaza Wholesale on September 10, 2020

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.

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Topics: Wholesale News, BREEZE LOS, Plaza at a Glance, eClosing and Digital Lending Tools

Online Appraisal Payments

Posted by Plaza Wholesale on September 10, 2020

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.

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Topics: Wholesale News, BREEZE LOS, Plaza at a Glance, eClosing and Digital Lending Tools

FHA Single-Unit Condo Approvals

Posted by Plaza Wholesale on September 10, 2020

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!

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Topics: Wholesale News, FHA Loans, Mini-Correspondent News, Government Loans, Condo Lending

Case Study: Correspondent Avoids $110K Indemnification

Posted by Plaza Correspondent on September 10, 2020

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.

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Topics: National Correspondent News, Correspondent Certified Loan Program, Client Case Studies

Reverse Jumbo Expands

Posted by Plaza Reverse on September 10, 2020

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.

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Topics: Wholesale News, Wholesale Program Updates, Jumbo Reverse

Late Night Locks in BREEZE

Posted by Plaza Wholesale on September 10, 2020

Working late? So are we. Plaza brokers can lock loans in our BREEZE LOS until 11:59 PM PT on business days.

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Topics: Wholesale News, BREEZE LOS, Plaza at a Glance