Jul 1, 2019 19-15

July 2019 Updated Program Documents - HUD Mortgagee Letter 19-06 & 19-07

 MFA Program Documents Updated to Meet HUD Mortgagee Letter 19-06 Requirements

The National Council of State Housing Agencies (NCSHA), on behalf of all State Housing Finance Agencies, and the Mortgage Bankers Association (MBA) requested HUD clarify several topics outlined in Mortgagee Letter 19-06.  To date, HUD has not responded to inquiries, reportedly due to a pending lawsuit. 

MFA’s legal counsel revised the affected program documents to meet the requirements outlined in the mortgagee letter.  MFA’s updated documents will be loaded into our system for use on July 15, 2019, well ahead of HUD’s extended July 23, 2019 deadline. Sample documents are available for immediate review on MFA’s website.  Please refer to each program specific form. Each of the program specific forms is titled DPA Mortgage Loan Commitment with Attorney Opinion Letter Attached.

Please note all terms and conditions of the Mortgage Purchase Master Agreement remain in full effect.

In an effort to reduce any impact to all parties, please circulate this correspondence to the appropriate parties within your organization.

We will keep you posted as additional guidance and clarification from HUD becomes available. Thank you for your continued support.