SS Multifamily Memo 18-01mf

Date: February 6, 2018

MULTI-FAMILY GUIDE REVISIONS: CONTACT MULTI-FAMILY

ALL MULTI-FAMILY LOAN PROGRAMS
Eric Havelock, Lending Officer II, Mortgage Operations

Property Reports
(Section 2001.04.A)

Effective with the date of this memo, all health and safety inspection reports submitted to AHFC for Multi-Family commitment consideration must include any additional inspections as specified by the initial health and safety inspection report. Areas requiring additional inspection by a licensed contractor may include, but are not limited to:

  • Furnace/Heating systems;
  • Roofs;
  • Electrical systems and components;
  • Plumbing; and
  • Other specific deficiencies as required by the health and safety inspector.

Lenders are reminded that AHFC reserves the right to require any additional inspection(s) be provided with the loan proposal in order to address outstanding inspection items or omitted area(s) not addressed in the initial health and safety inspection.

MULTI-FAMILY LOAN PURCHASE PROGRAM
Eric Havelock, Lending Officer II, Mortgage Operations

Commitment Fees
(Section 1004.07.B)

Effective with the date of this memo, AHFCs fee structure under the Multi-Family Loan Purchase Program is amended with regard to the fees charged for issuing loan commitments. The new fee structure is relative to the length of the commitment term, as follows:

  • The commitment fee shall be .5% of the committed loan amount for commitment terms up to 3 months;
  • .625% of the committed loan amount for commitment terms up to 6 months;
  • .75% of the committed loan amount for commitment terms up to 9 months; and
  • 1.0% of the committed loan amount for commitment terms up to one year.

Lenders are reminded that an extension fee of .5% shall be charged for each 90-day extension of the commitment period.

GUIDE REVISIONS: CONTACT MULTI-FAMILY

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