​​​ CHFA eNews: Home Finance
chfa enews - home finance 

seller’s guide updates and reminder about payment of property taxes

January 9, 2017

Seller's Guide Changes

We’ve recently made some updates to the CHFA Seller’s Guide. Changes of note include:
  • Further information regarding annual renewal of CHFA Participating Lender approval, including the introduction of a $500 annual renewal fee (see Chapter 1, Section 103.A);
  • Permissibility of obtaining a mortgage-only credit report in lieu of a payment-history report for CHFA FHA Streamline Refinance loans (see Chapter 5, Section 502.B.6);
  • Provision of CHFA’s MERS OrgID number (see Chapter 6, Section 601.F); and
  • Other minor technical corrections.

Payment of Property Taxes

As we start a new calendar year, please ensure that your company is complying with CHFA’s requirements for payment of property taxes. These requirements are as follows:
  • For any loan closed after January 1, 2017, all required 2016 property taxes must be paid at the time of closing;
  • For any loan closed in 2016 and purchased after January 27, 2017, Participating Lenders are responsible at a minimum for the payment of the first half of required 2016 property taxes. CHFA will require proof of such payment prior to purchase.
If you have questions or need assistance with any of these items, please contact us.

CHFA Home Finance
303.297.7376 or 888.320.3688 Denver
970.241.2341 or 800.877.8450 Western Slope

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