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Changes Effective January 1, 2012

Participating lenders must complete a RISC Score Card for potential homeowners with loans that are manually underwritten (no matter the credit score) and potential homeowners with credit scores from 620 through 659, where the DTI exceeds 43%. Applicants must successfully pass a CHFA RISC Score Card in order to utilize any CHFA loan program.

CHFA’s Debt-to-Income ratios are limited to the following:

fico band	dti limits
Manually underwritten loans	43% maximum and must pass CHFA RISC
620-659	50% maximum; borrowers exceeding 43% must pass CHFA RISC
660 and above	55%

Introducing the Participating Lender Score Card

CHFA’s new Lender Score Card measures the quality and timeliness of the Participating Lender’s loan file as it moves through CHFA’s review processes. Areas of measurement include Cancelation Rate, Compliance Suspend Rate, Purchase Suspend Rate, Post Closing Late Delivery, and Early Payment Default. CHFA Participating Lenders, selling to CHFA at least the minimum required loans as outlined in our Mortgage Purchase Agreement, earn stars based on their performance and corresponding weights in these areas. The higher the number of stars, the more the lender can earn. Designated staff members of Participating Lenders can view their scorecard via CHFA HomeConnection beginning April 1. CHFA anticipates making payouts to eligible Participating Lenders under the Lender Score Card prior to the end of 2011.

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Our mortgages meet the needs of most low- and moderate-income customers because they offer affordable interest rates, plus a second mortgage loan program to help cover down payments and/or closing costs.

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Western Slope Office - 1.800.877.8450