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Fannie Mae has rescinded the 4% Variance for Interested Party Contributions under the HFA Preferred Loan Product.
Loans currently under this variance, must be delivered to Fannie Mae by June 2018.
ServiSolutions/Alabama Housing Finance Authority will stop purchasing loans under the variance, effective March 1, 2018.
Participating Lenders must review their pipeline accordingly and make this revision to product guidelines for the HFA Preferred product.
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