The Compliance Manuals are the one-stop single family program reference guides.
MFA has clarified the definition of residential housing and other revisions to the Program Compliance Manuals for the First Home/ First Down and Next Home programs have been made which have been highlighted.
The manual will be periodically updated and the updates will be communicated via a lender memo.
HFA Preferred has changed their guide to allow HFA Preferred occupant borrowers own other residential properties.
MFA has updated the Compliance Manuals and the HFA Preferred Term Sheet with this change.
Please feel free to contact MFA’s Homeownership Department with any questions or for further clarification.
Thank you for participating in MFA’s single family program.