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:

• Overlay requiring AUS approval for manufactured housing has been removed
• Overlay requiring manufactured date < 10 years for a single-wide has been removed
• Complete details can be found in the FHA Fixed and ARM Guidelines and the VA Fixed and ARM Guidelines 

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.