WHEDA Home News - December 2006

WHEDA® Home News - December 2006

Quick Decision Processing Method Update

Due to a change in policy in the mortgage insurance industry, effective January 1, 2007, loans with mid credit scores below 620 can no longer be processed through Quick Decision.

These loans must be submitted to WHEDA for a manual underwrite. If approved, the borrower's will continue to receive the benefit of the special WHEDA mortgage insurance (MI) premium rates from all of the WHEDA approved MI providers.

To obtain a copy of the special WHEDA MI rate chart, contact your private mortgage insurance representative.

800 Rate Line

Due to low call volume on the 800 Rate Line, 1-800-862-1043, effective, January 4, 2007, the phone line will be disconnected.

For current rates, visit the Rates page or call 1-800-334-6873 and ask for a Single Family Program Specialist.

And remember, effective January 4, 2007, WHEDA rates will change weekly on Thursday mornings at 8:00 a.m.

If you have any questions regarding the information in this e-mail, contact Pat Multerer at 1-800-334-6873 or via e-mail at pat.multerer@wheda.com.