SS Multi-Family Memo 15-01

Date:  April 1, 2015

MULTI-FAMILY GUIDE REVISIONS: CONTACT MULTI-FAMILY

Multi-Family Loan Purchase Program
Eric Havelock, Lending Officer II

Buydown Fees
(Section 1002.02.M.5) 

AHFC has reviewed the fees associated with a buydown of an AHFC interest rate. To accurately reflect the cost of the buydown to the corporation, AHFC has established the updated pricing below. The new pricing goes into effect with applications submitted to AHFC on or after April 5, 2015. A buydown associated with a commitment issued prior to April 5, 2015, will be honored at the committed pricing amount.           

Buydown

15 year

30 year

0.125

0.500

0.500

0.250

1.000

1.000

0.375

1.500

1.750

0.500

2.000

2.250

0.625

2.750

3.000

0.750

3.250

3.750

0.875

4.000

4.500

1.000

4.500

5.000

Multi-Family Loan Purchase Program
Eric Havelock, Lending Officer II

Building Energy Efficiency Standard (BEES) Certification
(Revised Form PUR-101)

Two revisions of Form PUR-101 have been released in the past several weeks. Lenders may encounter a version of the PUR-101 that was released on December 10, 2014, through AHFC’s AkWarm software program. While this form will look familiar, it does not include the PUR-101 form number in the lower right-hand corner and may include an additional Building Features Report page. If properly certified, this form is acceptable to AHFC; however, please note the Building Features Report page does not have to be recorded. 

On January 14, 2015, another revision of the PUR-101 (dated 01/01/2015) was released through AHFC’s AkWarm program. That revision is now in effect and is being released with this selling memo.

Multi-Family Loan Purchase Program
Melanie Smith, Multi-Family Underwriter II

Executive Summary
(Section 2001.04.D)

Effective with the date of this memo, Lenders may submit the executive summary of the environmental report on loans equal to or less than $1,500,000. The complete environmental report must be maintained in the Lender’s file, but only the summary is to be submitted with the application package. Should the summary indicate the potential for environmental risk, the entire report should be submitted to AHFC.

Multi-Family Loan Purchase Program
Melanie Smith, Multi-Family Underwriter II

Tax Identification Number (TIN) for All Applicants
(Section 5000.03.B.1)

Effective with the date of this memo, Lenders will be required to provide the tax identification number (TIN) for a limited liability company (LLC) with two or more members. A separate W-9 form will be required as part of the loan commitment submission package for the LLC and for the individual borrower(s).

Forms Guide Revisions: Contact MULTI-FAMILY
(Only available in PDF - Adobe Acrobat or Adobe Reader is required to read/print PDF files)

Revised Form

PUR-101

ATTACHMENTS

PUR-101 (Revised)
Section 1002.02.M.5
Section 2001.04.D
Section 5000.03.B.1