Introduction to Fannie Mae’s - Genworth Financial

Introduction to Fannie Mae's:

HomeStyle? Renovation Mortgage

July 2020

Customer Education

Brought to you by: Genworth Customer Development and Process Consulting

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HomeStyle? Renovation Mortgage

The HomeStyle Renovation mortgage provides a convenient and flexible way for borrowers considering home improvements to make repairs and renovations with a first mortgage, rather than a second mortgage, home equity line of credit, or other more costly methods of financing.

NOTE: Lender approval is required to deliver HomeStyle Renovation loans to Fannie Mae prior to completion of the work. Lenders must have two years of direct experience originating and servicing renovation mortgages within the past five years, and meet certain financial capacity and operational requirements. See Selling Guide B5-3.2-01: HomeStyle Renovation Mortgage: Lender Eligibility for details, and contact your Fannie Mae customer delivery team for assistance.

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Fannie Mae COVID-19 SEB Updates

Fannie Mae LL-2020-03 updated from original issuance.



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Loan Purpose

Purchase Limited Cash Out Refinance (LCOR)

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Loan Type/Term

15 and 30-year Fixed Rate Mortgage (FRM) All Eligible Adjustable Rate Mortgage (ARM) Products

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