Seller/Servicer Memorandum 22-08
Date: July 28, 2022
From: Jan Miyagishima
Director, Mortgage Operations
SELLING GUIDE REVISIONS: CONTACT UNDERWRITING
(Anchorage Only: 907-330-8400/ Outside Anchorage: 888-854-3884)
AHFC is happy to announce that we’re adding a 365-day commitment term for new construction and renovation loans.
We’re also adding a 90-day extension option on Urban programs.
These options are available starting August 1, 2022.
Commitment Term (Section 1005.03.C)
The 365-day commitment term is being added to the Urban and Rural loan programs. This option is only available for new construction and renovation loan options.
Commitment Extensions (Section 1005.04.B.1)
You can now request a 90-day extension on all Urban loan programs.
The 365-day commitment term will cost 1.000% for both Delegated and Program Compliance, Urban and Rural loan programs.
The 90-day extension on Urban programs will cost .500%.
Note: These options aren’t currently not available on the Lender Portal, they’ll need to be manually completed by AHFC Underwriting. A Memo will go out once our new system and Lender Portal are up and running. These options will be available for the lenders to complete on the new Lender Portal.