MHDC 2008A target date February 11, 2008

 

The MHDC’s [Missouri Housing Development Commission] next bond issue’s target date is 2.11.2008.  Unless we see the kind of volatility we saw a couple weeks ago they should meet the target date.  There will be some important changes to this issue.  MHDC backed loans approved through the FHA, Fannie Mae, and Freddie Mac have been treated exactly the same up to now.   Due to all the changes with conventional mortgages, that will not be for the 2008A Bond Issue.  In order to not see investor points on the new 2008A Bond issue, your client will need to be acquiring FHA financing.  Conventional loans such as Fannie Mae Flex, Fannie Mae MyCommunity, and Freddie Mac Home Possible will have fees carried over to your borrower.