SS Memo 08-06

SELLING GUIDE REVISIONS: CONTACT UNDERWRITING

Date: September 24, 2008

Computer Conversion/Commitment Submissions

As many lenders are aware, AHFC is in the process of converting to a new computer system.  At the end of business on October 3, a conversion to the new system will occur. Although AHFC will make every effort to accommodate requests in a timely manner, the conversion activity will likely cause a delay in issuing commitments and lenders are encouraged to plan ahead. Lenders should plan for turnaround time in excess of 3 days on all submissions sent after 4:00 on October 3. Lenders may also experience delays when requesting changes, etc. to existing commitments.

It’s estimated the increased turnaround time will affect submissions through October 17. To avoid delays, especially for lock-ins expiring between October 3rd and the 17th, lenders are encouraged to submit the request for commitment on or before October 3.