Seller/Servicer Memorandum 24-09

Date:  June 26, 2024

From:   Michelle Graves
            Director, Mortgage Operations

SELLING GUIDE REVISIONS: CONTACT UNDERWRITING
(Anchorage Only: 907-330-8400/ Outside Anchorage: 888-854-3884)

Interest Rate Lock-In Fee
(Section 1005.02, Section 1005.07, Section 1005.09)

The fee for the AHFC Lock-In/Rate Reservation has been updated to $250 until further notice.  This change takes effect immediately (any Lock-In as of 6/26/24).

As-Is Appraisals
(Section 2000.04.B, Section 2011.07A&B)

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.