Bulletin 2023-080 HomeReady Plus
Newrez LLC "Newrez" Approved Correspondent Clients; Fannie Mae offers the HomeReady product with a loan level pricing adjustment when the borrower completes homeownership counseling prior to a sales contract. The lender will receive a loan-level price adjustment credit of $500, when the HomeReady loan is delivered with Special Feature code 184. Certificate of Completion of Housing Counseling (Form 1017) must be signed by the borrower and the HUD Counselor if the counseling is obtained prior to the sales contract and a copy retained in the loan file.
Below are the two additional 30 Year Fixed products to support this LLPA.
- 2561 HomeReady Plus 30-Year Fixed Rate
- 2562 HomeReady Plus 30-Year w/Community 2nd
Please note, the Plus is a Newrez designation for the enhancement to the HomeReady Product.