seller’s guide updates and a reminder to sign up for emailed rates
seller’s guide changes
We’ve recently made some updates to the
CHFA Seller’s Guide (Guide). Changes of note include:
- Changing CHFA’s lender application fee structure to a single flat fee (see Chapter 1, Section 102.A.2);
- Permitting borrowers in CHFA’s Fannie Mae® programs to have an ownership interest in one other residential property (see Chapter 2, Section 201.F);
- Clarification that AUS type must correspond to the specific conventional program selected (see Chapter 3, Section 301.D);
- More specific guidance on correctly documenting the Borrower Premium option, and potential consequences for not doing so (see Chapter 3, Section 302.A); and
- Revision of CHFA’s Early Payoff Policy such that liability for recapture of premiums is determined based upon date a loan is purchased by CHFA rather than the date the first payment is due to CHFA (see Chapter 6, Section 614).
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