Duty to Serve Shared Equity Homeownership Certification for Fannie Mae
Grounded Solutions Network is partnering with Fannie Mae to offer a short application for homeownership programs to certify that they meet the Duty to Serve (DTS) rule’s definition of shared equity homeownership, which can help create more lending options for shared equity homebuyers.
What does certification entail?
You’ll complete this short self-certification application form to verify whether your program meets the Duty to Serve (DTS) rule’s definition of shared equity homeownership. The bulk of the certification application form is six key questions that you’ll answer based on your program’s ground lease or deed restriction. After submitting, Grounded Solutions Network may select some submissions for audit to verify that self-certified responses are accurate. We’ll submit a list of programs that meet the DTS shared equity homeownership definition to Fannie Mae, which can then distribute the list to its lending partners. Watch our instructional video below to see how easy it is to fill out the form.
Why should I complete the application?
It should make building lender relationships easier, giving you and your team more time to focus on what matters: serving your community. Being on the list can save lenders time and give them confidence that your program has been vetted, which gives buyers in your programs more options. Join nearly 100 shared equity homeownership programs on the list and help us demonstrate that shared equity homeownership is more than a niche offering.
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