WHEDA Home News Update - October 2008

WHEDA® Temporarily Suspends Rate Locks

Effective immediately, WHEDA will not accept new rate locks under its Home Program until further notice. While WHEDA is suspending rate locks, WHEDA will continue to accept preapprovals in hopes that the capital markets disruption is short-lived. The volatility of the capital markets is impacting WHEDA's access to capital and our cost of capital. As a result, WHEDA is suspending rate locks under its Home Program until the capital markets stabilize and WHEDA's access to low-cost capital is restored.

WHEDA also will waive its preapproval fee for applications received on or after October 1, 2008, until further notice.