chfa home finance enews

upcoming trainings November 18, 2021 chfa home finance upcoming trainings Lender Basics (Loan Officers) Live webinar • December 8 • 10:00am Learn about CHFA programs in this two hour class. Strongly recommended for loan offic

Effective for all locks made on or after November 29, 2021, CHFA will require the most recent two years' IRS tax transcripts for all borrowers utilizing the CHFA Preferredsm, CHFA Preferred Plussm, and CHFA Preferredsm Very Low Income Programs (VLIP). •

Effective for all locks made on or after November 29, 2021, CHFA will require the most recent two years' IRS tax transcripts for all borrowers utilizing the CHFA Preferred, CHFA Preferred Plus, and CHFA Preferredsm Very Low Income Programs (VLIP).

Lender Basics (Loan Officers) Live webinar • November 2 • Noon Learn about CHFA programs in this two hour class. Strongly recommended for loan officers. To register, please click here. Lender Basics (Loan Officers) Live webinar • November 18 •

Vendor Selection CHFA is pleased to announce that it has completed its Request For Proposal (RFP) process and selected RentTrack to help administer the Rent Reporting for Credit Pilot Program. As part of administering the Program, RentTrack will be

In Colorado, Black families are 62 percent less likely to own their own home than white families. With your help, CHFA would like to change this statistic. Attend this virtual event to learn not only the obstacles and barriers, but also the opportunities

CHFA is pleased to announce that it has completed its Request For Proposal (RFP) process and selected RentTrack to help administer the Rent Reporting for Credit Pilot Program. As part of administering the Program, RentTrack will be specifically

Please note: Some have experienced issues registering for the event. We have updated the link below to mitigate these problems. If you have any trouble registering, please reach out to Pam Francil for assistance.

Some of CHFA’s homebuyer education providers are now offering free, in-person classes. Click on the provider’s name for dates, times, and registration information:

chfa hosts virtual open house on bridging the homeownership gap In Colorado, Black families are 62 percent less likely to own their own home than white families. With your help, CHFA would like to change this statistic. Attend this virtual event to learn

Lender Basics (Loan Officers) Live webinar • September 23 • 2:00pm Learn about CHFA programs in this two hour class. Strongly recommended for loan officers. To register, please click here. Lender Basics (Loan Officers) Live webinar • October 5

Effective today, CHFA has implemented an enhanced document delivery system via HomeConnection. The system allows Participating Lenders to upload documents more efficiently and allow CHFA to continue meeting review times.

CHFA will be implementing an enhanced document delivery system via HomeConnectionsm on September 13, 2021. The system will allow Participating Lenders to upload documents more efficiently and allow CHFA to continue meeting review times – meaning you and y

upcoming trainings Lender Basics (Loan Officers) Live webinar • September 7 • 10:00am Learn about CHFA programs in this two hour class. Strongly recommended for loan officers. To register, please

CHFA will be implementing an enhanced document delivery system via HomeConnectionsm soon. The system will allow Participating Lenders to upload documents more efficiently and allow CHFA to continue meeting review times – meaning you and your borrowers can

CHFA will be implementing an enhanced document delivery system via HomeConnectionsm soon. The system will allow Participating Lenders to upload documents more efficiently and allow CHFA to continue meeting review times – meaning you and your borrowers can

Lender Basics (Loan Officers) Live webinar • August 3 • 10:00am Learn about CHFA programs in this two hour class. Strongly recommended for loan officers. To register, please click here. Lender Basics (Loan Officers) Live webinar • August 19 • 2

Lender Basics (Loan Officers) Live webinar • July 6 • 10:00am Learn about CHFA programs in this two hour class. Strongly recommended for loan officers.  To register, please click here. Lender Basics (Loan Officers) Live webinar • July 15 • 2:00pm Learn

CHFA has updated income limits for its CHFA Preferred and CHFA Preferred Very Low Income Programs. The new income limits are only effective for new loan locks made on or after June 21, 2021.

Mortgage Loans must be delivered to CHFA for purchase within 10 days after the closing date. Additionally, if a Mortgage Loan is not purchased by CHFA prior to Lock Expiration, CHFA may decline to purchase the Mortgage Loan. In the event the

upcoming trainings Lender Basics (Loan Officers) Live webinar • June 1 • 10:00am Learn about CHFA programs in this two hour class. Strongly recommended for loan officers. To register, please click here. Lender Basics (Loan Officers) Live

With low inventory and increasing sales prices, CHFA realizes it’s a challenging market for homebuyers. We also realize the importance of providing down payment assistance (DPA). CHFA DPA may be used toward down payment, closing costs, prepaids, and/or p

CHFA is pleased to announce the publication of a revised and updated CHFA Seller’s Guide. This version is a comprehensive update of the guide and incorporates all CHFA program and process changes previously announced via CHFA eNews announcements, webinars

Income Limits CHFA has updated income limits for its SmartStep, FirstStep, SectionEight Homeownership, and HomeAccess Programs. The new income limits are only effective for new loan locks made on or after May 1, 2021. Please note, the income limits for

Lender Basics (Loan Officers) Live webinar • May 4 • 10:00am Learn about CHFA programs in this two hour class. Strongly recommended for loan officers.  To register, please click here. Lender Basics (Loan Officers) Live webinar • May 20 • 2:00pm Learn

Did you know that CHFA has an Ambassador Toolkit for real estate professionals? It’s full of informational flyers and consumer tools such as a fillable spending plan. And, we’ve recently added a new resource for your use. Check it out! We’ve heard selle

CHFA does not always require tax returns; read important reminders below for details. However, when tax returns are required, CHFA will require a 2020 tax return for loans locked on or after May 17, 2021. A full transcript or the complete tax return is ac

chfa home finance upcoming trainings Lender Basics (Loan Officers) Live webinar • April 6 • 10:00am Learn about CHFA programs in this two hour class. Strongly recommended for loan officers. To register, please clic

Up until now, only traditional homes and newly constructed manufactured houses have been eligible for financing through Rural Development’s (RD) Section 502 Guaranteed Loan Program. CHFA is pleased to announce, given Colorado’s approval to participate, C

We are pleased with the success of the Lock to Purchase process and have greatly appreciated your acceptance of this operational efficiency. Let’s remember, CHFA FirstStepsm Mortgage Loans still require a CHFA program compliance review prior to closing t

CHFA would like to remind you of three important changes to forms we will require in March 2021. March 1, 2021: 1. Lenders must use the redesigned Uniform Residential Loan Application (URLA) for all loan applications started on or after March 1, 2021.

Please ship only those original recorded documents, never copies, outlined on the applicable CHFA Program Purchase Review Submission Checklist found on the Programs, Forms, and Matrices webpage. Required documents should be mailed to CHFA’s offices at 198

The below policy is effective for CHFA Locks made on or after March 1, 2021: CHFA Locks in “Reserved” status will automatically be canceled and a possible fee assessed unless one of the following actions has taken place prior to the Lock’s Expiration

Please use CHFA-specific documents when required. For example, you must use CHFA Form 305, CHFA Second Mortgage Loan Promissory Note, and CHFA Form 310, CHFA Second Mortgage Deed of Trust, when originating a CHFA Second Mortgage Loan in conjunction with a

All CHFA staff will be participating in a meeting on Friday, February 12, 2021. CHFA’s HomeConnectionsm system will remain operational, allowing lenders to lock new loans and upload documents. CHFA will work to accommodate file reviews due out on Februa

CHFA would like to thank all our Participating Lenders for their continued support and dedication to Colorado homebuyers, especially in such a challenging year. With the help of our 119 Participating Lenders, CHFA was able to help 10,483 households

CHFA is pleased to present a new way for homebuyers to search for a CHFA-approved online homebuyer education class. Simply visit chfainfo.ehomeamerica.org and follow the prompts to register for a class. We hope this makes finding a CHFA-approved

Lender Basics (Loan Officers) Live webinar • February 17 • 2:00pm Learn about CHFA programs in this two hour class. Strongly recommended for loan officers.  To register, please click here. Lender Basics (Loan Officers) Live webinar • March 18 • 2:00pm

It has come to CHFA’s attention that some of its homeownership customers are being targeted in a phone scam. Customers are receiving calls that appear to be from CHFA according to Caller ID and being offered lower monthly mortgage payments. The caller tel

It was recently announced that effective January 19, 2021, the Federal Housing Administration (FHA) is permitting individuals classified under the “Deferred Action for Childhood Arrivals” program (DACA) with the U.S. Citizenship & Immigration Service (USC

MERS® System Registration Many lenders are not meeting the MERS® System Registration requirement. The Transfer of Servicer (TOS)/Transfer of Beneficiary (TOB) must be completed within the MERS System using a transfer date within five (5) days of CHFA’s l

CHFA Homeowner is a quarterly newsletter created for CHFA homeownership customers that includes timely tips and information about financial fitness, home maintenance, consumer topics, and more. CHFA Homeowner is now archived on the CHFA

CHFA is ready to accept IRS Form 4506-C. IRS Form 4506-C is a form that can be utilized by authorized IRS Income Verification Express Service (IVES) participants to order tax transcripts electronically with the consent of the taxpayer. CHFA relies on it

Below is a list of 2021 holidays affecting CHFA Home Finance operations. On days when CHFA is closed, lenders will be able to submit documents; however, loan locks, processing of documents, file check-ins and reviews, and all other CHFA Home Finance

As of January 1, 2021, CHFA will no longer accept Framework as an online homebuyer education platform. • CHFA will accept certificates from individuals who completed the Framework online course via one of our homebuyer education providers on or before

Effective for locks made on or after January 4, 2021, use the lower of $548,250 or the applicable program loan limit determined by FHA, VA, USDA-RD, Fannie Mae, or Freddie Mac®. The loan limit includes financed MI, MIP, VA Funding Fee, USDA-RD Guarantee

Lender Basics (Loan Officers) Live webinar • January 20 • 2:00pm Learn about CHFA programs in this two hour class. Strongly recommended for loan officers. To register, please click here. CHFA Guidelines Training for Processors and Un

Staff Appreciation – This Friday CHFA Home Finance staff will be conducting staff appreciation starting at noon on Friday, December 18, 2020. CHFA’s HomeConnectionsm system will remain operational, allowing lenders to lock new reservations and upload

In March of 2020, CHFA launched our Spanish-language homeownership microsite, Mi Hogarsm. This website offers the resources and information to help your customers on their way to successful homeownership—again, all in Spanish! We’ve also included testimon

Without a CHFA program compliance review on CHFA SmartStepsm, CHFA Preferredsm, and CHFA Preferredsm Very Low Income Program (VLIP) mortgage loan programs, getting to the closing table and having your loan purchased should be faster than ever.