Please be advised:
As announced by FHA in Mortgagee Letter 2019-11, the maximum LTV/CLTV on Cash-Out Refinances will be reduced to 80% effective for case numbers assigned on or after September 1, 2019.
The new FHA Case Number Assigned Date of “On or After 9/1/2019” is already in production and is available at the bottom of the “FHA Case # Assigned” drop down list on the product search form. This option will become the default option after business hours on August 31, 2019.
Optimal Blue’s support of the new LTV/CLTV limit coincides with each of our investor’s specific roll out date. If an Investor is rolling out these changes prior to Sept 1, 2019, Optimal Blue will update the investor’s content in the PPE to support this change on the date provided by the investor regardless of the FHA Case Number Assigned Date. For all other investors, the change will be associated with an FHA Case Number Assigned Date of “On or After 9/1/2019”.
Please reach out to Client Services with any questions regarding these changes.
The Optimal Blue Team
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