New feedback message to identify submissions that may be eligible for reduced Home Possible Mortgage® delivery fee

Based on your feedback, on November 18, we’re updating Loan Prospector ® with a new feedback message to help you address Home Possible Mortgage delivery fee modifications we announced in our August 1 Single-Family Seller/Servicer Guide (Guide) Bulletin. [PDF 90K]

For Home Possible purchase transactions submissions, the following new feedback message will:

Notify you when the income used to qualify a borrower for a Home Possible Mortgage is equal to or less than 80 percent of the applicable area median income
Indicate that the loan may be eligible for a reduced Home Possible delivery fee

Message Code	New Feedback Message
LPR K8	The income used to qualify the borrower for this mortgage is at or below 80% of the Area Median Income and may be eligible for a reduced Home Possible delivery fee.

We encourage you to begin using the LPR/K8 message code in your processing in anticipation of the November 18 message implementation.

For more information

On our recent delivery fee modifications, please review our August 1 Guide Bulletin. [PDF 90K]
On AMI limits, please refer to the Affordable Income & Property Eligibility tool.
Read our At-a-Glance article in this issue of the Single-Family News providing an overview of all our recent underwriting and purchase requirements changes, including our recent delivery fee modifications.