The Iowa Finance Authority's Master Servicer, Idaho Housing and Finance Association has asked us to provide the following information to our lender partners regarding Freddie Mac Manual Underwrites.
No Freddie Mac Manual Underwrites
Effective immediately, Freddie Mac manual approvals will no longer be allowed. This change will allow Idaho Housing and Finance Association and the Iowa Finance Authority to protect partners from potential risk as these loans often result in repurchase.
- Loans currently locked with Iowa Finance Authority will be reviewed for purchase as usual.
- Loans currently in process with the lender may be considered on a case-by-case basis.
