Difference between revisions of "FM SFLP.Special Eligibility Program"
From Open Risk Manual
Wiki admin (talk | contribs) (Created page with " == Definition == <b>Special Eligibility Program</b>.: A mortgage program with expanded eligibility criteria designed to increase and maintain home ownership. • Home Ready...") |
Wiki admin (talk | contribs) (→Notes) |
||
(2 intermediate revisions by the same user not shown) | |||
Line 1: | Line 1: | ||
== Definition == | == Definition == | ||
− | <b>Special Eligibility Program</b> | + | <b>Special Eligibility Program</b>: A mortgage program with expanded eligibility criteria designed to increase and maintain home ownership. |
− | + | * Home Ready - An affordable mortgage program designed for eligible, creditworthy borrowers. | |
− | + | * HFA Preferred - An affordable, conventional mortgage program available exclusively to housing financing agencies (HFAs) to maximize financing to low-to moderate-income borrowers. | |
− | + | * RefiNow - An affordable refinance program designed for eligible, creditworthy borrowers with an existing Fannie Mae-owned mortgage. | |
− | + | * Other - A special eligibility program not provided within the other enumerations. | |
− | + | * Not Applicable - The special eligibility program disclosure is not applicable to the related loan. | |
− | + | * Not Available - The special eligibility program disclosure is not available for the related loan. | |
== Notes == | == Notes == | ||
− | + | * F – HFA Preferred™ | |
− | + | * H – HomeReady | |
− | + | * R – RefiNow™ | |
− | + | * O – Other | |
− | + | * 7 – Not Applicable | |
− | + | * 9 – Not Available. | |
+ | |||
The field belongs to the [[FM SFLP Template]] | The field belongs to the [[FM SFLP Template]] | ||
Line 22: | Line 23: | ||
== Field Characteristics == | == Field Characteristics == | ||
* FM SFLP Field Index: 79 | * FM SFLP Field Index: 79 | ||
+ | * Column Label: HOMEREADY_PROGRAM_INDICATOR | ||
* Data Type: Choice | * Data Type: Choice | ||
* Data Maximum Length: X(1) | * Data Maximum Length: X(1) |
Revision as of 17:08, 17 January 2023
Definition
Special Eligibility Program: A mortgage program with expanded eligibility criteria designed to increase and maintain home ownership.
- Home Ready - An affordable mortgage program designed for eligible, creditworthy borrowers.
- HFA Preferred - An affordable, conventional mortgage program available exclusively to housing financing agencies (HFAs) to maximize financing to low-to moderate-income borrowers.
- RefiNow - An affordable refinance program designed for eligible, creditworthy borrowers with an existing Fannie Mae-owned mortgage.
- Other - A special eligibility program not provided within the other enumerations.
- Not Applicable - The special eligibility program disclosure is not applicable to the related loan.
- Not Available - The special eligibility program disclosure is not available for the related loan.
Notes
- F – HFA Preferred™
- H – HomeReady
- R – RefiNow™
- O – Other
- 7 – Not Applicable
- 9 – Not Available.
The field belongs to the FM SFLP Template
Field Characteristics
- FM SFLP Field Index: 79
- Column Label: HOMEREADY_PROGRAM_INDICATOR
- Data Type: Choice
- Data Maximum Length: X(1)
Disclaimer
This information is provided as is. Refer to the FM SFLP Template for pointers to definitive instructions about hte SFLP data templates