Seller/Servicer Memorandum 26-02

Date:   February 10, 2026

From:  Michelle Graves
           Director, Mortgage Operations

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

Property Inspections
(Section 2000.02.I, Section 2001.07.A, Section 2001.07.B)

Properties with a C5 (or higher) and/or Q5 (or higher) rating must be sent to AHFC for review prior to loan commitment.  The lender must use the UND-40, and the file will need to be submitted as Program Compliance for loan commitment. 

Property Inspection waivers
(Section 2000.05.E)

The guide has been updated to state that if a lender receives a PIW on a refinance, they must obtain prior approval from AHFC before proceeding.