RC_LP_U_308.2 Fannie Mae Construction-to-Permanent Guidelines

Fannie Mae Construction-to-Permanent Guidelines examines Fannie Mae's guidelines for underwriting construction-to-permanent loans. The course begins with a discussion of transaction types, including the criteria for determining whether the transaction is considered by Fannie Mae to be a single-closing or a two-closing transaction and whether the loan purchase should be purchase or refinance. It then reviews underwriting guidelines for Fannie Mae construction-to-permanent loans, including equity requirements, escrow holdbacks, term of loan, transaction type, property type eligibility restrictions, and age of documentation. Finally, the course addresses the proper application of the data into Fannie Mae's automated underwriting system, Desktop Underwriter®(DU®).

This is a single-family/residential course.