Clarification to July 27, 2010, eNews regarding Servicing Transfer Letters

The recent eNews that was sent out on July 27, 2010 with regard to a change in CHFA’s mailing address for payments was in error and may have unintentionally caused some confusion.

Since March of 2007, as a service to its Participating Lenders, CHFA began the process of mailing a Combined Notice of Servicing Transfer when it Purchases the First Mortgage Loan. By doing so, Participating Lenders are relieved of the obligation to send a separate “Goodbye Letter” to Borrowers. For more information, refer to Chapter Eight of the Seller’s Guide.

Also, please note that when the Participating Lender generates the first payment letter, it should always include the Participating Lender’s address and not a CHFA address for the Borrower to mail payments before the Mortgage Loan is transferred to CHFA.

We sincerely apologize for any confusion that the July 27, 2010, eNews may have caused.