SS Memos 2020 Summary

Single-Family Seller/Servicer Memorandums - 2020

Memo 20-01

  • AHFC no longer has a minimum square foot requirement with the exception of manufactured homes.

Memo 20-02

  • Extend temporary relief by following AHFC and Insurers’ guidelines and guidance regarding hardships due to COVID-19.

Memo 20-03

  • The Assumptions and Release of Co-Borrower sections have been updated in both the Selling and Servicing guides with clearer instructions on how both should be handled.
  • Several forms have been removed and/or updated.

Memo 20-04

  • AHFC is asking Lenders to provide a copy of the recorded Deed of Trust in the purchase package to help correct any errors earlier in the process.

Memo 20-05

  • AHFC is asking Servicers to provide more borrower information when providing a copy of the recorded Notice of Default to AHFC.

Memo 20-06

  • AHFC is extending the foreclosure and eviction moratorium until June 30, 2020.

Memo 20-07

  • 2020 Income and and First Home Limited Acquisition Cost Limits have been announced.

Memo 20-08

  • AHFC will be using $108.25 for the PFD calculations.

Memo 20-09

  • AHFC has updated the purchase process for Renovation loans. We've added the Construction/Renovation Pre-Purchase Status Form (Form-PUR75A)

Memo 20-10

  • Any streamline refinance of a First Home, My Home, Rural Owner Occupied and Uniquely Alaskan loan will now require a .125% adjuster added to the rate.

Memo 20-11

  • Reminder Memo for COVID condition and requirements at purchase.  Also a reminder on the rate adjustment to Streamline Refinances.

Memo 20-12

  • Added 2021 loan limits