Plaza News + Updates

Stay Up-to-Date with Plaza's Program Updates

Posted by Plaza Home Mortgage on June 21, 2023
Plaza Home Mortgage

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.


Topics: Wholesale News, Plaza at a Glance, Mini-Correspondent News, Government Loans

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