Post Closing Policy Reminder

Effective 07.31.2009, CHFA will impose a one-time Late Document Fee of $150 per file when applicable, as described in Chapter Seven of the Seller's Guide.

Required forms and documents must be delivered to CHFA within 90 days of Purchase. Non-delivery of outstanding post closing documents within 120 days of Purchase will result in a $150 Late Document Fee that will be charged to the Participating Lender.

Participating Lenders will receive a monthly bill for all late-delivered documents. When Participating Lenders receive the 121 day outstanding documents letter, a payment coupon will be attached for remittance of the Late Delivery Fee to CHFA. Participating Lenders are expected to remit payment for these fees in a timely manner, but no later than 60 days after the date of the monthly bill. Unpaid fees will result in a temporary suspension of loan purchases until the fees are brought current.

This policy applies to all loans reserved on or after 03.02.09.

Please contact the Home Finance division 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