SS Memo 08-04
SELLING GUIDE REVISIONS: CONTACT UNDERWRITING
Date: July 11, 2008
Mortgage Guides Update
Attached is an Update Summary highlighting revisions to AHFC’s online mortgage guides from 01/04/08 to date of this memorandum.
SERVICING GUIDE REVISION: CONTACT SERVICING
Attorney Fees and Legal Costs (SER-86)
AHFC is amending Section 13001.10 and the SER-86 to include actual third party filing costs as reimbursable fees and costs. Servicers should begin using the revised SER-86 effective immediately.
Assistance Provider (APIRR)
AHFC is revising the Servicing Guide Section 12004.03 and .05 to adjust the dates for providing annual compliance documentation of inspections and annual certification for all Assistance Provider Loans. The anniversary date of the loan will be the first payment due date.
Assistance Provider Certification of Status (SER-95)
Servicers should begin using the new SER-95, Certification of Status, when submitting the annual compliance documentation to AHFC. AHFC will no longer require evidence of the number of clients under assistance.
COMMON INTEREST COMMUNITIES GUIDE REVISIONS: CONTACT SERVICING
Throughout the Common Interest Communities Guide the phrase “Mortgage Holders, Insurers, or Guarantors, has been replaced by “Mortgage Holders,” to more accurately reflect the Association’s contact for servicing related issues.
Rights of Condominium Mortgage Holders
Any condemnation or casualty of $10,000 or more, of the Project or a unit securing its mortgage, must be reported in writing to the Mortgage Holder. Previously there has been no established dollar amount (high or low) for reporting purposes.
FORM GUIDE REVISIONS
Replacement forms are available in MSWord and PDF. (Adobe Acrobat is required to read and print PDF files.)
SER-86 ser86.doc ser86.pdf
SER-95 ser95.doc ser95.pdf
Attachments in PDF only.
08-02 Mortgage Guides Update Summary