Plaza News + Updates

Our full training calendar for the month of August 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.

Plaza Home Mortgage^® just removed the self-employment overlays plus made other enhancements to our popular Jumbo 1 program. We also have updates to mortgage insurance and Jumbo AUS we want to tell you about.

Plaza Home Mortgage^® just removed the self-employment overlays plus made other enhancements to our popular Jumbo 1 program. We also have updates to mortgage insurance and Jumbo AUS we want to tell you about.

Our full training calendar for the month of July 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.

Plaza Home Mortgage^® has been serving the Empire State for a long time, and we’ve learned a thing or two about the market in the process.

FHA Update: Student Loan Debt Policy

Plaza Home Mortgage^® is aligning with FHA student loan guidance as announced in the Mortgagee Letter 2021-13. The updated policy removes the current requirement that lenders calculate a borrower’s student loan monthly payment as 1% of the outstanding student loan balance for student loans that are not fully amortizing, or are not in repayment.

The new policy bases the monthly payment on the actual student loan payment, which is often lower, and helps home buyers with student debt meet minimum eligibility requirements for an FHA-insured mortgage.

This updated policy may be employed by lenders immediately but mandatory implementation is required for all case numbers assigned on or after August 16, 2021. Plaza will apply this policy immediately.

If you have questions on the updated FHA student loan debt policy please contact your Plaza Account Executive, or email us at hereforyou@plazahomemortgage.com.

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