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Updates to Home Possible Mortgages and More in Guide Bulletin 2018-13

August 29, 2018

Please review Single-Family Seller/Servicer Guide (Guide) Bulletin 2018-13 for selling updates that simplify how we work together: This Guide Bulletin:

  • Combines our Home Possible® and Home Possible Advantage® offerings into one consolidated offering and expands certain requirements.
  • Updates mortgage eligibility and credit underwriting requirements related to:
    • Payment calculation requirements for student loans
    • Cash back from no cash-out refinance transactions
    • Inquiries on credit reports
    • Income starting after the note date
  • Extends the effective date for previously-announced rental income requirements.
  • Updates our appraisal requirements to no longer require Form 71.
  • Updates certain condominium project insurance requirements.

More Information

  • Read Guide Bulletin 2018-13
  • Register for our What's New with Home Possible webinar
  • Review the updated Loan Product Advisor® feedback messages