What is CHFA’s mailing address?

What phone number do I call to get in touch with CHFA Loan Servicing?

What is the fax number for CHFA Loan Servicing?

What are CHFA’s business hours?

What fees are assessed for documents and/or services?

Can I make my payment by phone or online?

How do I set up an automatic withdrawal for my mortgage payment?

How do I obtain a copy of my monthly statement?

How do I obtain a payoff statement?

Why is the principal balance on my loan not my payoff amount?

What items does my monthly mortgage payment include?

What is escrow analysis and how does it work?

What is an escrow overage/shortage?

What type of insurance coverage is required?

How do I change insurance companies or carriers?

How can I cancel my insurance?

What is force-placed insurance?

What is the mortgagee clause for CHFA?

What is mortgage insurance or private mortgage insurance?

Why is there only one social security number on my annual loan statement?

How can I access information about my loan online?

How do I sign up for eStatements?

What do I do if I forget my userID/password or lock my account?

I am having difficulty making my monthly payment. What should I do?

What is the Federal Recapture Tax? How can I determine whether or not I owe a recapture tax?

What is CHFA’s mailing address?

Please be sure to include your loan number on all correspondence and payments.

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What phone number do I call to get in touch with CHFA Loan Servicing?

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What is the fax number for CHFA Loan Servicing?

CHFA Loan Servicing Fax (Third Party Authorization, Address Change, VOM, Name Change, Certificate of Death, Short Sale, Delinquency)	303.297.0935
Automatic Withdrawal (ACH)	303.291.5729
Payoff Request	303.291.5719
Insurance Department	440.519.0761 or 303.297.0935

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What are CHFA’s business hours?

CHFA Loan Servicing representatives are available from Monday to Friday, 8:00am to 5:00pm

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What fees are assessed for documents and services?

All requests for the following items must be made in writing via mail, fax, or ordered online through the Loan Servicing Customer Care website. A fee will be assessed to your loan.

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Can I make my payment by phone or online?

To make your payment by phone, call CHFA Loan Servicing at 888.925.5720. Pay online here.

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How do I set up an automatic withdrawal for my mortage payment?

To arrange for automatic withdrawal, simply complete the Automatic Payment Authorization Agreement (PDF) and return it by fax or mail it to our Denver address.

You may choose the 1st, 5th, or 16th day of the month for your payment to be withdrawn from your account. You will be notified by certified mail when the first payment will be withdrawn from your account. Continue making your payments by check until you receive this notification.

Biweekly payment plan

CHFA offers an optional budget drafting plan in which one half of your total mortgage payment is electronically withdrawn from your checking or savings account every other week. You will still pay the same monthly rate, but this system can reduce your loan term. There is a one-time $150.00 fee to provide this service. Please contact CHFA’s Loan Servicing Department at 888.925.5720 for further information.

To request a Biweekly Payment Plan form, call 303.297.7493 (option 5) or toll free, 888.925.5720. Leave your name and CHFA account number and a form will be sent to your mailing address.

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How do I obtain a copy of my monthly statement?

To obtain a copy you must send your request by mail or fax to CHFA Loan Servicing. Please check our fee schedule above for the fee amount.

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How do I obtain a payoff statement?

You may request a payoff quote in writing by including your signature, CHFA loan number, payoff effective date, and a return fax number and/or address, or you can request a payoff quote online through our Loan Servicing Customer Care website. If you are a third party, we will need a faxed copy of an Authorization to Communicate to a Third Party form. Your request will be processed within two business days.

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Why is the principal balance not my payoff amount?

Your principal balance is not the payoff amount because the interest on your loan is calculated in arrears. For example, when you paid your July payment you actually paid interest for June and principal for July. The payoff amount also includes any escrow advances, release fees, and other charges and credits due on the loan.

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What items does my monthly mortgage payment include?

Your monthly mortgage payment includes a payment to the principal balance of your loan, the interest payment, and your escrow payment (monthly payments collected to pay your hazard insurance, mortgage insurance, flood insurance, and property taxes.) This is commonly referred to as P.I.T.I. (Principal, Interest, Taxes, and Insurance.)

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What is an escrow analysis and how does it work?

An escrow account is used when taxes and insurance payments are made on your behalf.
The escrow analysis helps determine how much money should be deposited into your escrow account to cover future tax and insurance obligations. Adjustments will be based on payments CHFA has already made on your behalf and the amount in the escrow accounts at the time of the analysis. All the loans will be analyzed every May with any payment change effective in July.

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What is an escrow overage/shortage?

An overage occurs when there is an over collection of funds to pay taxes and insurance. A shortage occurs when there is not enough money in escrow to pay taxes and insurance.

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What type of insurance coverage is required?

Property, fire, or homeowners’ insurance is required by CHFA to protect our investment against loss or damage to the property. As a homeowner and in accordance with your Deed of Trust, you need to maintain adequate coverage at all times.

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How do I change insurance companies or carriers?

If you decide to change your insurance carrier, please do the following:

• Make sure your policy meets the insurance requirements for your loan.
• Contact your current insurance carrier to cancel coverage. You may not receive a refund if one is due.
• Forward a copy of your new policy to CHFA’s Insurance Department as soon as possible so we have the most recent information on record.
• Once we receive the new insurance information, CHFA will set it up for payment from your escrow account. 

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How can I cancel my insurance?

As long as you have a mortgage, you must always carry adequate insurance coverage on your property, as required by your Deed of Trust. If you receive a cancellation notice for any other reason, please contact us immediately so we may assist you. Failure to replace a canceled policy will result in the placement of force-placed insurance, which is more expensive than standard coverage and may not provide the same type(s) of coverage.

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What is force-placed insurance?

Force-placed insurance is insurance coverage that will be obtained by CHFA when proof of insurance coverage has lapsed, been canceled, or has not been received. It is a safeguard to protect our interest in the property if damage occurs and you have not maintained adequate coverage. It is usually more expensive than insurance coverage you can purchase yourself. Also, if anything should happen to your property, you may not submit any personal claims under a force-placed insurance policy. This is one reason it is critical that you maintain your own homeowner’s insurance.

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What is the mortgagee clause for CHFA?

Colorado Housing and Finance Authority
ISAOA (its successors and/or assigns)
P.O. BOX 391125
Solon, OH 44139-8125

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What is mortgage insurance or private mortgage insurance?

Mortgage insurance protects a lender if a borrower defaults on a loan. For FHA loans, mortgage insurance is required on all loans, regardless of the amount of the down payment. For a conventional loan, private mortgage insurance is required on all loans if you are borrowing more than 80 percent of the purchase price.

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Why is there only one social security number on my annual loan statement?

All lenders are required to report the total amount of interest paid during the calendar year. Since CHFA does not take a position with respect to the financial interest of each party on a loan, CHFA only reports under the primary social security number. The IRS does not require reporting for additional social security numbers.

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How can I access my account online?

Access your account here. The first time you enter the page you will have to register by creating your own user ID and password. Online loan information is available 24 hours a day, seven days a week.

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What do I do if I forget my user ID/password or lock my account?

If you forget your user ID, call CHFA Loan Servicing at 888.925.5720 for assistance. If you forget your password, enter your user ID and click on the link that says “forgot your password” and your password will be emailed to you.

If you lock your account, please contact CHFA Loan Servicing for assistance.

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I am having difficulty making my monthly payment. What should I do?

If you are having difficulty making your mortgage payment, please call us at 303.297.7493 or 888.925.5720 and select Option Two (late payment and charges) to discuss your current situation. CHFA might have a solution to assist you through this difficult time.
 
Another option available to you is to contact the Colorado Housing Counseling Coalition (877.601.HOPE). If you have an FHA or VA guaranteed loan, contact HUD (FHA loans) or VA for additional guidance.
 
Protect your credit rating. Contact CHFA or a HUD-approved Counseling Agency whenever you anticipate or are unable to make your mortgage payment. Most importantly, read all mail from CHFA!

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What is the Federal Recapture Tax? How can I determine whether or not I owe a recapture tax?

View information regarding the Federal Recapture Tax in relation to CHFA customers.

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