In This Issue
Planned System Outage
Kentucky Housing Corporation's (KHC) loan reservation system will be down for scheduled maintenance from 7-10 p.m. ET, Tuesday, April 21, 2020.
DU Version 10.3
In response to the changing market conditions, Fannie Mae updated Desktop Underwriter (DU) to version 10.3 last weekend. These changes apply to loan case files created on or after April 12, 2020, and are intended to help lenders better manage credit risk in the current market. It can be expected to see a reduction in the number of Approved and Eligible recommendations on case files with high-risk factors.
LOS Update
Due to unforeseen delays related to COVID-19, the "go live" date for KHC's new Loan Origination System (LOS) has been pushed back to Monday, June 15, 2020.
$1,500 Closing Cost Grant
As of today, Thursday, April 16, 2020, the $1,500 closing cost grant has been fully allocated. Thank you to all of the lenders who secured this grant for the 700 homebuyers since the funds were made available on March 10, 2020.
HFA Preferred Risk
As of today, Thursday, April 16, 2020, the HFA Preferred Risk program is no longer available. KHC continues to offer the HFA Preferred and HFA Preferred Plus 80 programs. Please refer to the  Conventional First Mortgage Programs information on KHC's website for detailed information.
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