CHFA eNews: Home Finance
chfa enews - home finance 
  July 15, 2019

update: mortgagee letter 19-06 documentation now available

It’s business as usual at Colorado Housing and Finance Authority (CHFA). As required by HUD’s Mortgagee Letter 19-06 (ML 19-06) dated April 18, 2019, which concerns down payment assistance and operating in a governmental capacity, CHFA confirms that we operate our down payment assistance (DPA) programs in a manner consistent with HUD guidelines. Below are links to documentation demonstrating CHFA’s DPA programs are consistent with FHA’s requirements including those specified in ML 19-06.

  1. Here is a link to the Colorado State Statute known as the “Colorado Housing and Finance Authority Act" which established CHFA, along with its governmental authority within Colorado: Part 7 of Article 4 of Title 29 of the Colorado Revised Statutes.

  2. Here is the link to ML 19-06’s required legal opinion from CHFA’s legal counsel, which further documents CHFA’s statewide jurisdiction and that it is providing down payment assistance in CHFA’s governmental capacity within the State of Colorado.

  3. Effective for locks made today, July 15, 2019, CHFA’s DPA letters for FHA loans will include the additional language required by ML 19-06, including the required legal opinion from CHFA’s legal counsel provided above.

    As usual, these letters are made available and can be downloaded electronically from HomeConnectionsm once a file has been Program Compliance Approved. These remain subject to change to address any additional guidance that may be provided by HUD.

Please note all terms and conditions of the Mortgage Purchase Agreement remain in full force and effect.

We will keep you posted as additional guidance from HUD becomes available.

Please contact us for further information or questions.

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