SS Single-Family Memo 14-03

SELLER/SERVICER MEMORANDUM 14-03

Date:  June 17, 2014

SELLING GUIDE REVISIONS: CONTACT UNDERWRITING
Tax-Exempt Program Acquisition Cost Limits

Acquisition Cost Limits have been revised and are posted. Lenders may begin using the new limits effective immediately, but they must be used for any commitment issued on or after June 24, 2014.

Income Limits

Revised income limits are posted.  Lenders may begin using the new limits effective immediately, but they must be used for commitments issued on or after June 24, 2014.

SERVICING GUIDE REVISIONS: CONTACT SERVICING

Multifamily and Special Needs Program Annual Inspection Requirement
(Revised Sections 12004.02, 12004.03, 21000.02, 21001.01)

Effective immediately, the annual site inspection requirement on AHFC Multifamily and Special Needs Loan Program loans has been rescinded.

The inspection of delinquent Multifamily and Special Needs Loan Program loans by the 45th day of delinquency remains in effect with inspections required at 30 day intervals thereafter until the default has been cured.

Assistance Provider Interest Rate Reduction (APIRR)
(Revised Section 12004.06)

Effective immediately, the modification of the interest rate under the APIRR guidelines will no longer require a modification agreement be signed by the borrowers, the servicer and AHFC. Upon determination that the interest rate is to be adjusted after review of the annual compliance documentation, AHFC will issue written notification to the Servicer on the terms of the revised rate reduction.

FORM/GUIDE REVISIONS: CONTACT UNDERWRITING
(Only available in PDF - Adobe Acrobat or Adobe Reader is required to read/print PDF files)

Revised Forms

  • PRG-46 
  • PRG-46T

 ATTACHMENTS

FORM/GUIDE REVISIONS: CONTACT SERVICING
(Only available in PDF - Adobe Acrobat or Adobe Reader is required to read/print PDF files)

ATTACHMENTS