Notice: Program Compliance Review

CHFA is currently experiencing a very high volume of loans, so please be reminded that the review time for Program Compliance is three (3) business days. Resubmission of a suspended loan is a minimum of three (3) business days from receipt of a complete file. To expedite your Compliance loan approval, please submit files that are COMPLETE and APPROVED by your underwriter. We are suspending over 95% of the loans submitted. This seriously impacts our ability to review your files in a timely manner.

Program Compliance Review Reminders

• Utilize Home Connection BEFORE calling CHFA as the primary source to view loan statuses, reprint letters, documents, etc.
• Carefully review the CHFA Seller's Guide Chapter 5, Program Compliance Review and CHFA Form 700 the Submission Voucher. http://www.chfainfo.com/documents/Sellers_Guide.pdf
• CHFA Loan Analysts will be unavailable during certain blackout periods throughout the day, but will return all emails and voicemails within 24 hours.

The most frequent reasons CHFA suspends a loan for Compliance are:

• Submitting a loan without the underwriter's approval and signature on the FHA Conditional Commitment and/or required approval form. CHFA requires all loans to be reviewed and approved by your Underwriter, PRIOR to submitting to CHFA for Program Compliance Review.
• Missing or Incomplete appraisal, missing attachments;
• Expired and/or Incomplete purchase contract with all attachments and addenda and signatures from all parties (including the seller);
• Inaccurate AUS data entry and findings.

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