HUD released Mortgagee Letter 2019-11 on August 1, 2019 announcing changes to the maximum LTV/CLTV allowed on FHA cash-out transactions.
Effective with case numbers assigned on or after September 1, 2019 the maximum LTV/CLTV for a cash-out transaction will be reduced to 80% (currently 85%).
Homebridge has updated our FHA Program guidelines to align with new FHA requirement and the updated guidelines have been posted on the Homebridge website at www.homebridgewholesale.com
If you have any questions, please contact your Account Executive.
