SS Memo 12-01

Date: February 1, 2012

SELLING GUIDE REVISIONS: CONTACT UNDERWRITING

Non-Conforming II Program Documentation

(Revised Section 5006.13)

Effective with the date of this memo, Form PUR-103 is required in conjunction with the Non-Conforming II Program. The form must be signed by an approved selling partner, must indicate the AHFC loan number, and must be recorded at closing. Once recorded on a subject property, the PUR-103 is not required for subsequent or future transactions for financing said subject property under AHFC's Non-Conforming II Program.

SERVICING GUIDE REVISIONS: CONTACT SERVICING

(Section 02.J - Common Interest Communities Guide)

Effective with the date of this memo, the presale requirement for newly built condominium projects has been changed to 50%. Each subsequent phase must also meet the presale requirement of 50%.

Non-Conforming Condominium Acceptance

(Section .03 - newly added to Guide)

Effective with the date of this memo, AHFC will review for acceptance condominium projects that do not have evidence of compliance with AHFC's construction and/or thermal standards. The project must be at least five (5) years old at the time of submission.

See checklist: PRJ-2NCII


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