Bulletin W1272 – Updates to the FHA Streamline Program and HomePath
This bulletin highlights updates to the FHA Streamline Program and HomePath.
- The FHA Streamline program has been amended:
- AVM required on all loans with FICO scores less than 640
- Effective on loans submitted on and after Monday September 17, 2012
- AVM will be ordered by Junior Underwriter early in the process and included in loan file at time of underwriting
- FHA Streamline loans with no appraisal the LTV cannot be more than 115% of the value given on the AVM
- HomePath Product Guidelines updated to align with updates made on other conventional products and Wells Fargo guidelines.
- Matrices posted to the Intranet
Download: Bulletin – #W1272 (PDF)