Seller/Servicer Memorandum 22-05
Date: May 31, 2022
From: Jan Miyagishima
Director, Mortgage Operations
SELLING GUIDE REVISIONS: CONTACT UNDERWRITING
(Anchorage Only: 907-330-8400/ Outside Anchorage: 888-854-3884)
non-occupying co-signers (Section 1004.03)
AHFC is happy to announce that we will now permit a non-occupying co-signer on the following loan programs and property types:
allowable programs:
- My Home (Section 5000.02)
- Rural Owner-Occupied (Section 5001.02)
- First Home Limited (Section 5002.02)
- Veteran’s Mortgage Program/VMP (Section 5003.02)
- First Home (Section 5004.02)
allowable property types:
- Single Family & Condo/PUD
- Manufactured Homes on permanent foundations (Type-I)
Borrower must receive AUS loan approval and meet all agency and/or Government guidelines, if applicable. Co-signers will be liable on the Note, but cannot have ownership interest in the subject property. Co-signers will be required to sign the Note and Deed of Trust, as a non-occupant. Co-signers do not have to be an Alaskan resident.