CHFA has been listening to our Participating Lenders! We understand that Participating Lenders have time constraints to get files approved and closed and there may be a delay in obtaining CHFA Compliance Approval.

In an effort to simplify our processes and make the submission of loans easier for our Participating Lenders, Home Finance has implemented the following changes effective immediately:

Any loans approved through an Automated Underwriting System (AUS) will no longer require the signed FHA Conditional Commitment, the VA Lender’s Notice of Value with all conditions satisfied, or the signed RD Form 1908-18 Conditional Commitment forms prior to Compliance Approval. These documents may be submitted with the Purchase file and will be required and reviewed prior to Purchase. We will still require the completed but unsigned FHA Loan Underwriting Transmittal Summary, the VA Form 26-6393 Loan Analysis, or Fannie Mae 1008, Uniform Underwriting and Transmittal Summary forms to be in the Compliance file and will review it with the AUS findings and the credit report to insure there are no discrepancies that may compromise the AUS approval.

PLEASE NOTE: CHFA's Compliance approval does not constitute a credit approval. As always, we reserve the right to request additional documentation, including the signed Underwriter approval documents referenced above at Compliance review, if needed to make a decision, up to and including denial. This change does not apply to manually underwritten loans or certain special program loans.

Please contact us with any questions.

303.297.7376 or 1.888.320.3688 Denver
970.241.2341 or 1.800.877.8450 Western Slope

Thank you,
CHFA Home Finance