NOTE: Homebuyers Counseling is required, if all occupying borrowers are first time homebuyers. At least one borrower must go through counseling via Frameworks on all purchase transactions, regardless of LTV.
All FNMA Products
FNMA no longer requires a copy of the lease on our subject property to ensure there are any provisions that could affect our first lien position
NOTE: Due to COVID-19, our temporary guidance requiring a copy of the active lease(s) will remain. Once this temporary guidance is removed, we will no longer require a copy of the lease on the subject property unless required for income calculation purposes.
FNMA no longer requires an impound account to be set up when non-deliquent real estate taxes are financed as part of a limited cash out refinance transaction
Any property declared or filed as a horizontal property regime in accordance with local statues will be considered a condominium
Should you have any additional questions, please contact your Account Executive.