Seller/Servicer Memorandum 20-09
Date: July 22, 2020
From: Jan Miyagishima
Director, Mortgage Operations
SELLING GUIDE REVISIONS: CONTACT UNDERWRITING
(Anchorage Only: 907-330-8400/ Outside Anchorage: 888-854-3884)
AHFC is updating the purchase process for Renovation loans.
Renovation loans that are not complete at time of AHFC purchase will now require a PUR-75A form. The PUR-75A gives a breakdown of what has been completed on the renovation and what items are remaining. The PUR-75 will still be required when the renovation is completed. A commitment extension may be required, depending on the status of the renovation.
AHFC provides a Cost Certification (PUR-201) that may be used by lenders, but is no longer a required document.