Seller/Servicer Memorandum 20-09

Date:  July 22, 2020

From:  Jan Miyagishima
            Director, Mortgage Operations

SELLING GUIDE REVISIONS: CONTACT UNDERWRITING
(Anchorage Only: 907-330-8400/ Outside Anchorage: 888-854-3884)

AHFC is updating the purchase process for Renovation loans. 

Renovation loans that are not complete at time of AHFC purchase will now require a PUR-75A form. The PUR-75A gives a breakdown of what has been completed on the renovation and what items are remaining. The PUR-75 will still be required when the renovation is completed.  A commitment extension may be required, depending on the status of the renovation.

AHFC provides a Cost Certification (PUR-201) that may be used by lenders, but is no longer a required document.

Forms

Construction/Renovation Pre-Purchase Status (Form PUR-75A)
Construction/Renovation Escrow Disposition (Form PUR-75)