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Announcement 2019-029 Conventional, Home Possible and HomeReady Updates

Updates are being made to allow the use of short-term rental income through Airbnb on DU scored conventional refinances, along with Freddie Mac and Fannie Mae updates.

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Announcement #2019-023: Conventional and Government Updates

Updates to Conventional and Government products effective immediately.

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Conventional Updates - 10/29/18

Effective with new registrations and pipeline loans on Monday, October 29, 2018, New Penn Financial is making certain updates where applicable to our Conventional, HomeReady®, Home Possible®, LMI, DURP and LPOA guidelines as noted below.

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Conventional Updates

Cash-Out Refinance LTV/CLTV Increase, FHLMC HomeOne, and more.

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Conventional Income Limits Update

The income limits have been updated for both HomeReady and Home Possible.

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Conventional Updates - 5/18/18

Effective with new applications on or after May 18, 2018, the conventional products will be updated in order to better align with Freddie Mac guidelines.

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