In alignment with the Freddie Mac Bulletin 2020-45, Plaza Home Mortgage® has updated the Home Possible® program guidelines, effective for all loans purchased on or after March 1, 2021. Specifically, this update reduces the maximum LTV from 95% to 85% for certain Home Possible Mortgages secured by 2-4-unit properties.
Great news! Plaza Home Mortgage® has extended our waiver of the 50bps Adverse Market Refinance Fee on all Agency Express refis to February 26, 2021. Agency Express, available to our Wholesale and Mini-Correspondent channels, gives you faster turn times on core Fannie Mae® and Freddie Mac loans. Close in as little as 10-15 days! Learn more by going to our info page or contacting your Plaza Account Executive.
In observance of the New Year’s Day holiday, your Plaza Home Mortgage® offices will be closed on the following days and times:
New Year’s Eve and New Year's Day Hours
- Thursday, December 31, your Plaza branch office will close at 3:00 PM local time
- The Lock Desk and Reverse offices will close at 3:00 PM PT, but online locks will still be available until 11:59PM PT.
- Friday, January 1, all offices will be closed
We wish you and yours a safe and happy New Year.
Please contact your Plaza Account Executive if you have any questions.
Plaza Home Mortgage® now offers rates as low as 1.75% on all government loan programs! Combined with Plaza’s superior client service and unparalleled experience with government lending, there has never been a better time to work with us.
This year we at Plaza Home Mortgage® are proud to be marking an important milestone in our company history – 20 years in business. Over the years we have experienced the highs and the lows of our industry, and did so alongside many of our clients. But one thing has remained unchanged at Plaza – and that is our commitment to providing you with the highest level of service and support. We celebrate and thank you, and look forward to 20 more years!
The FHA has announced an increase to new forward loan limits for 2021. The new loan limits will be effective for case numbers assigned on or after January 1, 2021. FHA forward mortgage limits for individual MSAs and counties are available here.
Plaza will align with FHA’s effective dates and accept the new loan limits for case numbers assigned on or after January 1, 2021.
Please contact your Plaza Account Executive if you have any questions about the new limits or their implementation date.
Plaza Home Mortgage® is pleased to announce that we are updating our Wholesale and Mini-Correspondent rate lock policy for all transactions. Now 15, 30, 45 and 60-day locks for all transactions no longer have file status requirements.
Please contact your Plaza Account Executive if you have any questions on this update.
Mortgage Industry Leaders Discuss Leveraging Tech, Tools, and People
Plaza is turning 20 in 2020, and the official celebration will kick off soon! To help commemorate the milestone, and in honor of Veteran’s Day, we’ve donated $20,000 to Warrior Foundation Freedom Station, a San Diego-based military charity that assists ill and injured service members. See their amazing work for yourself:
A Success Story: Sgt. Povas Miknaitis, Scout Sniper, U.S. Marine Corps
Learn more or make a donation