Single-Family Seller/Servicer Memorandums

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Single-Family Seller/Servicer Memorandums - 2024

Memo 24-01

  • Previously in Section 8000.02, the guide stated the borrower had to leave the 4506-C undated. That has been removed. It is acceptable for the form to be signed & dated. 
  • We have removed the requirement for a home inspection from the AHELP section. If the entity providing the assistance requires a home inspection, the lender is to retain a copy of the report in their file. 
  • Minor changes were made in the following sections: Averaged Income, Self-Employed, Rental Income, Child Support or Alimony. 

Memo 24-02

  • Clarification memo on eligibility for an energy rate reduction.

Memo 24-03

  • Clarification Memo regarding the Uniform Instruments that should be used.  Please be sure to use the July 2021 versions. 

Memo 24-04

  • The AHFC Lock-In/Reservation fee is increasing to $400. This change goes into effect on May 1, 2024.
  • The fee for commitments issued with the Streamline Refinance option will now be .125% on all Urban and Rural loan programs.  The fee is the same for Delegated or Program Compliance submissions. This change goes into effect on May 1, 2024. 

Memo 24-05

  • The UND-3 has been updated to reflect the commitment options for the Streamline Refinance Option. 

Memo 24-06

  • The 2024 Income and Acquisition limits are posted for the First Home Limited Program.  These limits can be used immediately but must be used for commitments issued on or after May 15, 2024. 

Memo 24-07

  • We have developed a Program Eligibility matrix to help our lending partners navigate through our loan programs.  This can be found in the Appendix of the Mortgage Guides. 
  • PIWs cannot be used on refinance or new construction transactions

Memo 24-08 

  • The guide on hazard insurance requirements for 1-4 units and common interest communities has been revised. 
  • Student loan payments must be calculated for borrowers on an income-driven payment plan, see Section 4005.11
  • The SER-50 form has been updated to include the NMLS number field and additional investors.

Memo 24-09

  • The AHFC Lock-In/Reservation fee has been updated to $250 until further notice. This change takes effect immediately (any Lock-In as of 6/26/24).
  • The guide has been revised to include “As-Is” Appraisals. 
    Appraisals that are completed “As-is” with a “cost to cure”, “as-is” with references to repair items, or the photos show deficiencies (For example; peeling paint or exposed siding) should be closely reviewed by the lender. In some instances, AHFC will require these items to be addressed prior to AHFC loan purchase.  

Prior Years