The Homeowner’s Protection Act (HPA) generally applies to residential conventional mortgage transactions taking place after July 29, 1999. There is however requirements for loans obtained before that date which will be outlined in my next Blog. The HPA laws don’t apply VA or FHA government-guaranteed loans. There are also different requirements for loans classified as “high-risk.” Fannie Mae and Freddie Mac are corporations chartered by Congress to create a continuous flow of funds to mortgage lenders in support of homeownership. The HPA doesn’t outline what a “high risk” loan is; instead it allows Fannie Mae and Freddie Mac to issue … Continue reading →