Aug 12, 2019 19-19

FINAL REMINDER Reservation Suspension for FNMA HFA Preferred Product

PLEASE FORWARD THIS MEMORANDUM TO THE APPROPRIATE PERSONNEL WITHIN YOUR ORGANIZATION

• On July 23, MFA sent Lender Memo 19-17 regarding “MFA Conventional Loan Product Suspension”

• On August 1, MFA sent Lender Memo 19-18 regarding “Clarification of Fannie Mae conventional HFA product changes”

• Lender Memo 19-19 is the FINAL reminder that the conventional loan programs will be suspended and no reservations will be accepted as of Monday, August 19, 2019.

FirstHome and NextHome conventional (HFA Preferred) programs will be off-line temporarily beginning August 19 while we develop the new conventional loan structure. These programs could be offline for several weeks to months due to the complexity and all the parties involved in revising the programs. Our intent is to restore these programs as soon as possible.

Please do not hesitate to call our office if you have any questions: 505.843.6880.