chfa home finance enews

CHFA had a successful 2021 and we’d love to hear from you! CHFA is interested in hearing: • how you helped a homebuyer with CHFA’s program(s), and • from homeowners directly if they are willing to be interviewed by CHFA. If you would like to share you

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. Lender Basics (Loan Officers) Live webinar • February 1 • 10:00am

CHFA has updated CHFA Form 205: Modification of Promissory Note and/or Deed of Trust to better delineate whether the modification is to the Note and/or the Deed of Trust. Additionally, Form 205 expands authorizations of the named lender to act as the

For any loan closed in the prior year and purchased by CHFA after January 28th of every year, Participating Lenders are responsible at a minimum for the payment of the first half of required prior year’s property taxes and all previous years’ taxes due.

Effective for locks made on or after January 3, 2022, use the lower of $647,200 or the applicable 2022 program loan limit determined by FHA, VA, USDA-RD, Fannie Mae, or Freddie Mac® plus financed MI, MIP, VA Funding Fee, USDA-RD Guarantee Fee, or 203(k)

CHFA is now making a distinction and providing clarity by implementing a Service Release Premium Adjustment Fee. A Service Release Premium Adjustment Fee may be charged if a Lock expires and the Mortgage Loan has not been sold to CHFA, and for which the

Lender Basics (Loan Officers) Live webinar • January 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 • January 20 • 2:00pm

For any loan closed in the prior year and purchased by CHFA after January 28th of every year, Participating Lenders are responsible at a minimum for the payment of the first half of required prior year’s property taxes and all previous years’ taxes due.

Effective for locks made on or after January 3, 2022, use the lower of $647,200 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

CHFA has updated its Seller’s Guide with the language in bold below, to provide further clarification relating to its title policy requirements. The Date of Policy should be no earlier than the date and time of recording of the First Deed of Trust,

Happy Holidays! It’s important to plan ahead. We have two important reminders: • CHFA Operational Hours • Homebuyer Education Certificates CHFA Operations Below is a list of 2021 holidays affecting CHFA Home Finance operations. On days when CHFA is clos

did you know? we've got you covered Please use the list below to get your questions answered! Topic Contact Information General CHFA homeownership questions 888.320.3688 homeownership@chfainfo.com Homebuyer education questions homebuyeredu@chfainfo.com

reminder: serving black homebuyers with the dearfield fund The Dearfield Fund is a down payment assistance program serving Black homebuyers. The Fund provides up to $40,000 in down payment support in the form of a shared-equity investment. Want to learn

For any loan closed in the prior year and purchased by CHFA after January 28th of every year, Participating Lenders are responsible at a minimum for the payment of the first half of required prior year’s property taxes and all previous years’ taxes due. I

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 recent CHFA program and process changes previously announced via CHFA eNews announcements,

webinar opportunities: reaching more homebuyers Database Marketing Done Right It’s a fact that most top-producing mortgage and real estate professionals generate the bulk of their business by proactively marketing to their past clients and personal contac

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