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.
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.
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.
The FHFA has announced the new conforming loan limits for loans purchased by Fannie Mae® and Freddie Mac on or after January 1, 2021.
Get on the Express Track with Speedy Turn Times – and Now Lower Pricing for Wholesale!
Agency Express from Plaza Home Mortgage® offers brokers faster initial turn times on eligible core Fannie Mae® or Freddie Mac programs. It’s a streamlined Wholesale submission option for eligible W-2 or fixed income borrowers, plus you may be able to close in as few as 10-15 days.
And even better news – Plaza will waive the .50 bp Adverse Market Refinance Fee on new Wholesale Agency Express refis locked through the end of the year - 12.31.20!
Get on the Express Track with Best-in-Class Turn Times
Agency Express from Plaza Home Mortgage® offers brokers faster initial turn times on eligible core Fannie Mae® or Freddie Mac programs. It’s a streamlined submission option for eligible W-2 or fixed income borrowers with pricing they’ll love, plus you may be able to close in as few as 10-15 days.
Agency Express is available for purchase, rate/term and cash-out refinance on Conforming Balance and High Balance/Super Conforming loans.
Let’s get your deals on the Agency Express. Get more details on which loans qualify on our information page, or download our Snapshot to go a little deeper.
Talk to your Plaza Account Executive today and take advantage of the new Agency Express, or email us at email@example.com.
They're back: HomeStyle and CHOICERenovation Loan Programs
Plaza is excited to announce that we will begin accepting Fannie Mae® HomeStyle® and Freddie Mac CHOICERenovation® renovation loans again on Monday, September 8, 2020. And don’t forget we also accept FHA 203(k) loans, so when you think renovation, think Plaza. Visit our program page or contact your Plaza Account Executive to learn more.
Watch our short video to see how the new AUS Access screen in BREEZE saves you time by letting you run and compare both DU® and LPA® at the same time, side-by-side on a single screen!