Single-Family SS Memo 18-09

SELLER/SERVICER MEMORANDUM 18-09

Date: December 14, 2018

From: Jan Miyagishima
Director, Mortgage Operations
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(Only available in PDF - Adobe Acrobat or Adobe Reader is required to read/print PDF files)

(Sections 1004.08.D, 1005.11.B, 8000.01)

We have made the following changes to the UND-31:

Provide the signed UND-22 with the printout from CSSD
Provide the full Home Inspection report on Non-Conforming I & II loans when applicable
Provide UND-10 except on new construction

Please note that we have modified the submission order on the form, but no additional documentation is required.

Please use this form for all Renovation loans. This checklist provides the required documents needed for our review on renovations.

(Sections 5003.05.A, 5003.05.D, 5003.06.A)

Separated or retired military must have DD214 stating veteran was discharged or released under conditions other than dishonorable
Active duty must provide a Statement of Service stating the veteran has completed their initial military obligation and would have been entitled to a discharge or release under conditions other than dishonorable at the end of his or her initial period of duty
Most recent year tax return to verify borrower has not filed business use of home in excess of 15% of the gross living area

(Section 5002.05.C.8 and Section 5003.05.D)

Business use of home is limited to 15% of the gross living area. Should the borrower’s prior year income tax return include deductions for business use of home over 15% of the gross living area, the Tax Exempt and Veteran’s Mortgage Program may not be used.