Direct quote from HomePath website. Does this mean no more Fannie Mae Renovation loans?

[Ana Nomys]

Effective October 7, 2014, Fannie Mae is retiring the HomePath Mortgage (HPM) and HomePath Renovation Mortgage (HPRM) products.

[Hattie Dizmond]

Fannie Mae Announces Plan to Discontinue HomePath Products

July 24th, 2014 2:52 PM

Fannie Mae Announces Plan to Discontinue HomePath Product

Effective October 7, 2014, Fannie Mae is retiring the HomePath Mortgage (HPM) and HomePath Renovation Mortgage (HPRM) products as we know them currently.

• HomePath and HomePath Renovation purchase agreements must be fully executed by 10/06/2014 and must include all HomePath and HomePath Renovation contract attachments and addendums. HomePath and HomePath Renovation listing details will not be available for print after 10/06/2014.
• We are in the process of determining application, lock and delivery cutoff dates for FIMC Custom HomePath product and will communicate these important dates in the very near future when finalized.
• We will be watching for individual investor announcements and will communicate the investor-specific HomePath cutoff dates as we learn of them.
• As of 10/07/2014, we no longer have Fannie Mae authorization to use or distribute the HomePath or HomePath Renovation logos in any advertisement, marketing piece, product matrix, guideline or in any other form.
• After 10/06/2014, HomePath will be defined simply as Fannie Mae REO property eligible for resale and no longer associated to a specific program.
• After 10/06/2014, Fannie Mae REO purchases are subject to standard Selling Guide requirements except for the following three benefits that will remain exclusive to Fannie Mae REO resales:

1. Interested Party Contributions (IPCs): For principal residences with LTV/CLTVs greater than 90%, interested party contributions are eligible to 6% (versus the standard 3% per the Selling Guide).
2. Multiple Financed Properties: For borrowers owning 5-10 financed properties, a maximum LTV/CLTV ratio of 75% for 2-4 unit investment properties is permitted (rather than the standard 70% per the Selling Guide) on fixed rate mortgage transactions only. All other eligibility requirements for borrowers with Multiple Financed Properties continue to apply.
3. Resale Restrictions: In the event the mortgaged property is subject to any resale restriction imposed by Fannie Mae as the property seller, the mortgage is eligible for sale to Fannie Mae, notwithstanding any Selling Guide restrictions on properties subject to resale restrictions.