Your benefit is that even though one underwriter might not want to do it, another one would.
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I would think one could own/occupy as many homes as they'd like - but in terms of getting to Homepath loan for the TX home......that home would have to be technically considered their "main" or "primary" home. How that is determined is what I'm not certain of. You may want check with the lender they are using who can speak directly to the Fannie Mae underwriters. They should be able to clarify the stipulations associated with these loans. Hope that helps!
Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor