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VHDA Participating in New Fannie Mae Program

On June 16, 2012, VHDA began accepting loan reservations under Fannie Mae's new HFA Preferred Risk Sharing program. Under this program, we can create Fannie Mae guaranteed mortgage backed securities (MBS) consisting of mortgage loans with up to 97% loan-to-value ratios without private mortgage insurance. 

Since implementing the program, VHDA has accepted approximately $50 million of loan reservations under the Risk Sharing program and has created $3.5 million of Fannie Mae guaranteed MBS. Although the program is scheduled to terminate on June 30, 2013, Fannie Mae has indicated that it will extend the program at least through December 31, 2013. VHDA plans to continue participating in the program as long as it is offered.

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