MPF Announcement 2026-13

MPF Xtra – HomeReady Product Enhancements

Effective Date: Immediately (unless otherwise noted)

Fannie Mae published Lender Letter LL-2024-01 (updated), extending the $2,500 loan-level price adjustment credit for certain HomeReady loans by one additional year.

Originators must ensure:

• the Borrower and loan meet the eligibility requirements outlined in the Lender Letter and Selling Guide, such as:

• The loan must be an eligible HomeReady purchase loan (underwritten in Desktop Underwriter® (DU®) or manually underwritten).

• The borrower(s) must have total qualifying income less than or equal to 50% of the applicable area median income (AMI) limit for the subject property’s location.

• At least one borrower on the loan must be a first-time homebuyer.

• the loan must be delivered using the following Special Feature Codes:

• 900 HomeReady loan, and

• 884 HomeReady VLIP LLPA Credit.

• For additional DU and delivery instructions, refer to the HomeReady VLIP LLPA Credit Job Aid

• PFIs must submit Loan Funding Requests by February 18, 2027. Loans that have not completed document certification prior to February 26,2027 will not be eligible for the $2,500 LLPA credit offering.

To gain a full understanding of these topics, PFIs should review the entire Fannie Mae Announcement and any applicable Fannie Mae Selling Guide chapters, forms, or exhibits noted in the announcements.

For questions or assistance, please contact the MPF Service Center by using one of the following options:

• MPF Customer Service Portal
• Email: [email protected]
• Phone: (877) 345-2673