SS Memo 12-02

Date: March 7, 2012

SELLING GUIDE REVISIONS: CONTACT UNDERWRITING

Commitment Fees and Documentation - Streamline Refinance

(Revised Section 1005.09.C and 7004.05.L)

AHFC is pleased to announce that the fee for 60 day Urban or 120 day Rural commitment for Streamline Refinance loan will be waived at the time of purchase. The waiver applies only to commitments that result in the loan being purchased by AHFC and does not apply to any extension fee for the commitment. This waiver goes into effect immediately and applies to any commitment for a streamline refinance on or after the date of this memo.

In addition, we are reducing documentation requirements. If a lender other than the current Servicer originates the streamline, a copy of the original as-built survey and appraisal may be maintained in the streamline loan file, but is not required by AHFC.

COMMON INTEREST COMMUNITY GUIDE REVISION: CONTACT SERVICING

Condominium Project Review Fee

(Revised Sections .04.A, .08.A.2, and .08.B)

Effective immediately, the AHFC Condominium Review fee schedule has been changed from the existing flat fee of $2,500. The new review fee is as follows:

  1. For new or existing condominium projects not previously approved by AHFC, an initial fee of $1,000 plus $30 per unit; and
  2. For subsequent phases submitted at a later date, a fee of $250 per phase plus $30 per unit.

FORMS GUIDE REVISIONS: CONTACT SERVICING

(Available in PDF - Adobe Acrobat or Adobe Reader is required to read and print PDF files)

Revised Forms

  • PRJ-2 New Condominium Acceptance Requirements
  • PRJ-2NCII Non-Conforming Type II Condominium Acceptance Requirements
  • PRJ-5 Condominium Subsequent Phase Documentation (Required)

Attachments

(Available in PDF only - Adobe Acrobat or Adobe Reader is required to read and print PDF files)