To help better serve you and your clients in any market cycle, Plaza Home Mortgage® is making the following guideline updates effective for locks on or after Wednesday, June 14:
FHA and VA Manufactured Housing:
Conventional Conforming Agency Impound Waivers:
- Added guidance for when escrow/impound waivers may be allowed up to 95% LTV
- Complete details can be found in the Conforming Fixed Guidelines
FHA, VA and USDA Guideline Updates:
- FHA Guidelines have been updated to incorporate conflict of interest information per ML 2022-22
- USDA Guidelines have been updated to clarify when borrowers may be removed from or added to refinances and added the info per HB-1-3555 regarding conflicts of interest
- VA Guidelines have been updated with the following:
- Clarified refinance seasoning begins after completion of forbearance (if applicable)
- A note has been added to include VA WebLGY appraisal transfer information
- The requirement for an NFIP elevation certificate, if a manufactured home is in a flood zone, has been removed
Please reach out to your Account Executive or email us should you have any questions about these changes.
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Our full training calendar for the month of June is now available. Please follow the link to see a complete list of all of our upcoming training courses. As always, all of our trainings are complimentary and once you register, even if you miss the training, you will receive an email link to the training to view at your convenience.
![Training June_SOCIAL_0523](https://news.plazahomemortgage.com/hs-fs/hubfs/Training%20June_SOCIAL_0523.jpg?width=400&height=400&name=Training%20June_SOCIAL_0523.jpg)
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Our full training calendar for the month of May is now available. Please follow the link to see a complete list of all of our upcoming training courses. As always, all of our trainings are complimentary and once you register, even if you miss the training, you will receive an email link to the training to view at your convenience.
![02_MAY Goals_SOCIAL_0423](https://news.plazahomemortgage.com/hs-fs/hubfs/02_MAY%20Goals_SOCIAL_0423.jpg?width=400&height=400&name=02_MAY%20Goals_SOCIAL_0423.jpg)
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Our full training calendar for the month of April is now available. Please follow the link to see a complete list of all of our upcoming training courses. As always, all of our trainings are complimentary and once you register, even if you miss the training, you will receive an email link to the training to view at your convenience.
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As you’ve probably noticed, we have been making significant enhancements to the Plaza Home Mortgage® BREEZE system lately as we continue ongoing work to provide a fast, modern and easy-to-use experience throughout the entire loan process.
What’s New Now
The Loan Conditions and Quick Pricer screens have been redesigned. Note that the functionality of these screens remains the same. But they have a new look and feel, making them easier to navigate and process your loan information.
Loan Conditions Screen
Key Changes:
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Our full training calendar for the month of March is now available. Please follow the link to see a complete list of all of our upcoming training courses. As always, all of our trainings are complimentary and once you register, even if you miss the training, you will receive an email link to the training to view at your convenience.
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Great news for borrowers! With the recent announcement of the reduction of FHA annual Mortgage Insurance Premium (MIP), Plaza Home Mortgage® will apply the new MI factors to FHA loans effective Monday, February 27, 2023.
New MI factors will be applied to:
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At first glance, the new LLPAs, effective May 1, 2023, for Fannie Mae® and Freddie Mac loans, can seem daunting. That’s why we’ve created an LLPA Reference Guide to help break it down for you!
This guide shares how the new price adjustments compare to previous ones, showing areas where pricing went up or down.
Currently all new 60-day Conventional locks for Plaza Home Mortgage® will utilize the new LLPAs. See the following timeframe for other lock periods:
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As part of our ongoing work to enhance the performance and security of the Plaza Home Mortgage® systems, we are making a final change to the public IP addresses for the BREEZE and LINQ systems on March 1, 2023.
Most of our clients will not be affected; however, those with firewall rules that require destination IP addresses to be safelisted will need to take action before March 1.
Please share this information with your IT personnel if it may impact your company.
We have added a second range of IP addresses and they will need to be added to your safelist.
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Plaza Home Mortgage® is making a change to our loan servicing operations and will soon be using a new servicer for all conventional loans, with the exclusion of co-ops, starting February 1, 2023.For any loans that will be funded on or after February 1, 2023, please be aware of and make the following adjustments to the Mortgagee Clause:Hazard Insurance – FHA, VA, USDA & DSCR Loans & Co-op Transactions:Plaza Home Mortgage, Inc. ISAOAP.O. Box 5954Springfield, OH 45501-5954Hazard Insurance – Conventional Loans, including Non-QM and Jumbo:Plaza Home Mortgage, Inc. ISAOAP. O. Box 1194Springfield, OH 45501-1194CPL – All Loans:Plaza Home Mortgage, Inc. ISAOA9808 Scranton Road, Suite 3000San Diego, CA 92121Title Insurance – All loansPlaza Home Mortgage, Inc. ISAOAP.O. Box 961292Fort Worth, TX 76161-0292If you have questions on this change or announcement, please contact your Plaza Account Executive, or email us at hereforyou@plazahomemortgage.com.
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