chfa home finance enews

Lender Basics (Loan Officers) In-person class, Denver • September 6, 2018 • 10:00am Learn about CHFA programs in this two hour class. Strongly recommended for loan officers. To register, please contact Jacob Lammert. Lender Basics (Loan Officers)

CHFA sponsored in-person homebuyer education classes are filling up quickly. Do not risk delaying a loan closing due to a borrower not completing a course and receiving a certificate of completion prior to closing. In-person classes are free!

The CHFA HomeConnection system will be unavailable starting at 2:00pm MT on Friday, August 10, 2018, while the system undergoes maintenance. Lenders will NOT be able to access the system for any purpose, including: making reservations, reviewing pipelines

CHFA always strives to better understand the needs of its customers and partners. Please take a moment to help us by responding to a brief survey about CHFA’s customer service, products, and processes. The survey will remain open until August 31, 2018.

The CHFA HomeConnection system will be unavailable starting at 2:00pm MT on Friday, August 10, 2018, while the system undergoes maintenance. Lenders will NOT be able to access the system for any purpose, including: making reservations, reviewing pipelin

In 2017, over 2000 homebuyers utilized a CHFA conventional loan program. Qualifying a borrower under a CHFA conventional loan program may be easier than you think. CHFA conventional loan program benefits may include*: • 97% LTV/105% CLTV • No MI with

upcoming trainings Lender Basics (Loan Officers) In-person class, Denver • August 1, 2018 • 10:00am Learn about CHFA programs in this two hour class. Strongly recommended for loan officers. To register, please contact Elfriede Leicht. Lender Ba

CHFA can now offer a combined loan-to-value (CLTV) ratio of 105 percent on Fannie Mae conventional loans for the purchase of a manufactured home. The loan-to-value (LTV) ratio remains at 95 percent*. Lenders must input “HFA Preferred” for CHFA Preferred

Please remember that beginning July 1, 2018, CHFA will no longer accept emailed or faxed documents to clear suspense conditions. Lenders must submit documents through the document delivery system via HomeConnectionsm. There are two ways lenders can uplo

To celebrate our home mortgage customers, we are hosting a social media sweepstakes to give away three $500 gift cards! We are asking CHFA borrowers* to visit www.chfainfo.com/chfa5 to share what home means to them, in 5 words or less, and submit a corr

This CHFA premier event is an opportunity for lenders and real estate professionals* to hear the latest information on federal, state, and local lending programs that could be of benefit to your customers. We remain dedicated to providing you with the la

Please remember that beginning July 1, 2018, CHFA will no longer accept emailed or faxed documents to clear suspense conditions. Lenders must submit documents through the document delivery system via HomeConnectionsm. CHFA will continue to require that

When: June 7, 2018 11:30am to 1:30pm Lunch is provided. Register today! Where: CHFA Grand Lake Community Room 1981 Blake Street Denver, CO 80202 • Learn how to pair down payment assistance with Freddie Mac HFA Advantage® for a great market advantag

All CHFA MCC funds have been committed. No further MCC reservations will be accepted. Thank you for partnering with us to make this program a success. Please contact us with any questions or for more information.

Be advised: It is anticipated that CHFA MCCsm funds will be fully committed in the coming days. Once all remaining funds have been committed, lenders will not be able to make a CHFA MCC reservation in HomeConnectionsm. Proceed with caution if you are ut

Housing Forum Colorado visits Durango on June 7. Register today! This CHFA premier event is an opportunity for lenders and real estate professionals* to hear the latest information on federal, state, and local lending programs that could be of benefit t

When: June 7, 2018 11:30am to 1:30pm Lunch is provided. Register today! Where: CHFA Grand Lake Community Room 1981 Blake Street Denver, CO 80202 • Learn how to pair down payment assistance with Freddie Mac HFA Advantage® for a great market advantag

CHFA receives many questions from lenders about the proper way to complete CHFA Second Mortgage Notes and Deeds of Trust. Lenders must use the following forms for all CHFA Second Mortgages available via HomeConnectionsm and the CHFA website: • CHFA For

CHFA has updated income limits for its single family mortgage programs. In addition, CHFA has updated its purchase price limits for the CHFA FirstStepsm, CHFA FirstStep Plussm CHFA HomeAccesssm, CHFA HomeAccess Plus, and CHFA MCCsm programs. These are t

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

To clarify the eNews published on May 8, 2018, CHFA will no longer accept emailed or faxed documents to clear suspense conditions at any stage of the program compliance, purchase, or final document review process. CHFA will continue to require that all

Effective July 1, 2018, lenders must submit documents through the document delivery system via HomeConnectionsm. CHFA will no longer accept emailed or faxed documents to clear suspense conditions at any stage of the program compliance, purchase, or final

Fillable Forms Now Available: CHFA Form 407, Notice of Recapture Tax to Mortgage Loan Borrowers and CHFA Form MCC-14, Notice of Recapture Tax are now fillable documents when accessed via HomeConnectionsm. These forms are available in HomeConnection once

Looking to learn more about mortgage credit certificates and how they can help your homebuyers? CHFA is conducting CHFA MCCsm webinars for loan officers and operational teams. Sign up today!

Housing Forum Colorado begins on Wednesday, May 16, in Grand Junction and seating is quickly becoming limited. Click here to reserve your space. This CHFA premier event is an opportunity for lenders and real estate professionals* to hear the latest infor

FOR NEW RESERVATIONS ONLY: Approximately $33 million remains available in CHFA’s statewide mortgage credit certificate (chfa mccsm) program. On Monday, April 23, 2018, reservations for CHFA MCCs will be available in all areas of Colorado, including non-ta

As a reminder, for reservations made on or after the IRS tax filing deadline of April 17, 2018, the borrower’s 2017 tax returns are required. Full transcripts of the borrower’s tax returns are acceptable. Submission of 2016 tax returns or a filing exten

Housing Forum Colorado begins on Wednesday, May 16, in Grand Junction! You may click here to register. This CHFA premier event is an opportunity for lenders and real estate professionals* to hear the latest information on federal, state, and local

CHFA will be installing a new server on April 7, 2018. CHFA’s HomeConnectionsm system will not be available. New reservations and file submissions will not be allowed. Normal HomeConnection and business operations resume on Monday, April 9, 2018.

CHFA updated the forms detailed below. Please ensure that you are using the most current version, all of which can be found on CHFA’s website or in HomeConnectionsm. CHFA Form # Form Name Version Form 205 Modification of Note and Deed of Trust 2.18v2 F

Last year, CHFA purchased $1.9 billion in first mortgage loans, helping over 8,000 households become homeowners. Now we want to increase our ability to help Coloradans achieve affordable homeownership. We are offering real estate agents an exclusive

CHFA has received reservations for the CHFA Advantage VLIP and CHFA Preferredsm VLIP Programs. Some of these reservations have been made in error. The CHFA Advantage VLIP and CHFA Preferred VLIP Programs have the same qualifying guidelines as the CHFA

CHFA updated the checklists detailed below. Please ensure that you are using the most current version, all of which can be found on CHFA’s website or in HomeConnection.

Last year, CHFA purchased $1.9 billion in first mortgage loans, helping over 8,000 households become homeowners. Now we want to increase our ability to help Coloradans achieve affordable homeownership. We are offering real estate agents an exclusive

We have a correction to the CHFA eNews dated January 31, 2018. CHFA will be updating its operational systems on Friday, February 2, 2018. CHFA’s HomeConnectionsm system will not be available after 2:00pm MT.

Effective for reservations on or after January 22, 2018, CHFA’s total maximum loan limit for the below CHFA loan programs will increase to $453,100. • CHFA Advantagesm • CHFA Advantage Refinance • CHFA Preferredsm and CHFA Preferred Plussm • CHFA Pref

Below is a list of 2018 holidays affecting CHFA Home Finance operations. On days when CHFA is closed, lenders will be able to submit documents; however, loan locks/reservations, processing of documents, file check-ins and reviews, and all other CHFA Home

Effective December 21, 2017, CHFA Home Finance is implementing the following procedural changes. Reservations/Locks No Longer Follow the Borrower Historically, CHFA reservations were tied to the borrower, not a particular property. This will no longer

As a follow-up to our eNews published on November 14, 2017, regarding proposed tax reform legislation, please be aware that should the final legislation passed by Congress retain the House of Representatives’ provision eliminating Mortgage Credit Certific

When: December 11, 2017, Noon to 1:30pm Lunch will be provided. Register today! Where: CHFA Grand Lake Community Room 1981 Blake Street Denver, CO 80202 • Hear about Loan Product Advisor® updates directly from Freddie Mac®. • Learn more about CHFA

reminder: use current IRS form 4506-T

CHFA's offices will be closed on the days listed below. You may continue to submit documents. However, loan locks/reservations, processing of documents, file check-ins and reviews, and all other CHFA Home Finance operations will not occur.

On November 9th, the Senate unveiled its proposed tax reform legislation, a week following the release of the House’s tax reform bill. The Senate and House proposals differ significantly on some key issues including private activity bonds (PABs).

As the new calendar year approaches, please ensure that your company is complying with CHFA’s requirements for payment of property taxes. These requirements are as follows: • For any purchase or refinance loan closed in the prior year and purchased by CH

In honor of Veterans Day, CHFA's offices will be closed on Friday, November 10, 2017. New loan reservations will NOT be accepted, loan files will not be reviewed, and loans will not be purchased. CHFA’s Document Delivery and HomeConnectionsm systems will

CHFA recently updated the forms and checklists listed below. Please ensure that you are using the most current version of a particular form, all of which can be found on CHFA’s website or in HomeConnectionsm. Updated CHFA Forms: • MCC-6: Seller Affidav

Effective November 1, 2017, CHFA’s loan rates will no longer be listed on www.chfainfo.com. Rates will be available in two other ways: 1. Via HomeConnectionsm: CHFA’s loan rates will continue to be available in HomeConnection. Only those with credentials

Loan Transfers - CHFA no longer allows reservation/rate lock transfers from one Participating Lender to another Participating Lender. If a borrower chooses to change Participating Lenders, the original Participating Lender will need to cancel the existing

Columbus Day - CHFA’s offices will be open for business on Columbus Day, Monday, October 9, 2017. However, because Columbus Day is a bank holiday, CHFA will not purchase loans on that day. All other CHFA Home Finance operations will continue as usual.

CHFA always strives to better understand the needs of its customers and partners. Please take a moment to help us by responding to a brief survey about CHFA’s customer service, products, and processes. The survey will remain open until November 9, 2017. C