SS Multi-Family Memo 16-03

Date: October 31, 2016

MULTI-FAMILY GUIDE REVISIONS: CONTACT MULTI-FAMILY

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

Leasehold Requirements
(Section 2001.02.A)

Effective with the date of this memo, AHFC will accept for purchase a mortgage secured by a leasehold interest where the original term or exercised renewal of the lease and any renewals enforceable by the mortgagee do not terminate earlier than 5 years after the maturity date of the mortgage or, for a  mortgage with a balloon payment at maturity, not earlier than 5 years after the maturity date the mortgage would have had if a regular amortization had continued until the mortgage was paid in full.

Factual Report Requirement
(Section 3001.02.A)

Effective with the date of this memo, a factual report is no longer required with the application for approval of a transfer of title.

Property Inspection by Loan Servicer Requirement
(Section 3001.02.B)

Effective with the date of this memo, a property inspection by the loan servicer is no longer required with the application for approval of a transfer of title. 


Form/Guide Revisions: Contact Multi-Family
(Only available in PDF - Adobe Acrobat or Adobe Reader is required to read/print PDF files.)

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