Private mortgage banker 360 Mortgage Group reports that it is now accepting manufactured home property types on Desktop Underwriter (DU) Refi Plus eligible loans.
Essentially, 360 Mortgage has removed the property type restriction it had on Home Affordable Refinance Program (HARP) loans and will now accept all property types that are HARP-eligible and receive an approved/eligible automated underwriting system finding.
In addition, 360 Mortgage has amended the 4506-T tax return validation (TRV) requirements. Borrowers must provide signed tax returns in lieu of a TRV from the Internal Revenue Service. A signed 4506-T is still required; however, a TRV will not be pulled during the government shutdown.
There are some rare situations in which the TRV from the IRS will be required (i.e., more than five properties on the real estate-owned), but those scenarios are imposed by Fannie Mae and identified on the automated underwriting system.
