MFA Subordination Policy Change
In order to mitigate the cost associated with financing the single-family mortgage program, MFA has evaluated the current policy related to the subordination of second lien down payment assistance. Based on the evaluation, MFA has revised the policy to only allow subordinations of second lien down payment assistance loans due to hardship.
The revised Hardship Subordination Guidelines policy can be viewed on the MFA website and will be effective December 31, 2013.
Thank you for participating in MFA’s program. Should you have any questions, please contact an MFA Homeownership Representative or Servicing Representative at 1(800) 444-6880 or (505) 843-6880