NIFA is releasing Program Update #19-24 as a replacement to Program Update #19-22 concerning changes to the HFA Preferred loan product. After further review, NIFA will finance HFA Preferred loans made to borrowers whose income exceeds the Fannie Mae imposed 80% AMI limits by county (but in all cases does not exceed the NIFA household program income limits).
Fannie Mae will use the DU first run date to determine loan qualification and the applicable mortgage insurance coverage. The DU first run effective date is on and after September 5, 2019.
Please don't hesitate to contact our office with any questions.