The MPF Program announces the following Origination and Underwriting Policy Updates: • 2024 Conventional Loan Limits • 2024 High-Balance Mortgage Loan Limits

This document contains multiple MPF Selling Announcements being published on this date.

Fannie Mae updated their selling guide with impacts to employment offers or contracts policy and shared appreciation requirements, these updates are applicable to mortgages sold under the MPF Xtra product.

Updated the Selling Guide to permit Single-Width Manufactured Homes, MH Advantage mortgage loans, and mortgage loans secured by properties in Guam, Puerto Rico, and the U.S. Virgin Islands.

Fannie Mae updated their selling guide with impacts to the following topics rental income, self-employed borrowers, manufactured housing appraisals, and property data collection requirements, sold under the MPF Xtra product.

Fannie Mae announced temporary representation and warranty enforcement relief for mortgage loans impacted by a COVID-19 forbearance. MPF Xtra mortgage loans previously or currently in a COVID-19 forbearance may be eligible...

Updated list of Ineligible Transactions, Products, or Attributes and clarified MPF Program Requirements that supersede Fannie Mae/DU and Freddie Mac/Loan Product Advisor requirements.

Updated the policy for using income earned from a trust towards qualifying.

Updated personal gifts policy to include requirements when the gift donor is the seller of the property and when the source of the gift is an estate or trust.

The American Land Title Association (ALTA) released 2021 revisions to their loan policy forms. The MPF Traditional Selling Guide was updated to reflect the use of these updated forms.