Seller/Servicer Memorandum 24-01

Date:               January 22, 2024

From:               Michelle Graves
                        Director, Mortgage Operations

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

4506-C
(Section 8000.02)

Previously this section stated the 4506-C must be signed by the borrower, but left undated.  We have updated this to remove “but left undated”.  It is acceptable for the borrower to date the form. 

AHELP Updates
(Section 7000)

The requirement of a home inspection has been removed from this program.  If the entity providing the assistance requires a home inspection, the lender is to retain a copy of the report in their file.

Effective Income
(Section 4003.02, Section 4003.03, Section 4003.05, Section 4003.07, Section 4003.09)

Minor updates have been made in Section 4003 – Effective Income.  There is more clarity on the history of receipt of certain types of income, tax return requirements, and income calculation for rental properties.