we have heard you! CHFA understands that many lenders are having difficulty receiving appraisals in a timely manner, which is impacting their ability to meet contract closing dates. As a result, effective October 12, 2015, CHFA will allow lenders to submit files for Program Compliance Review without an appraisal. Please upload the appraisal as soon as it is received, so the file can be reviewed as quickly as possible. Please Note: this change is for new file submissions only. If you have already created a document list in the Document Delivery System, the appraisal will still be a required document.
If you choose to submit files without an appraisal, and the appraisal is not uploaded prior to review, the loan will be suspended for the appraisal, along with the underwriting approval and AUS findings that reflect the correct appraised value.
Please remember to submit all conditions at the same time. We cannot review individual condition items separately, as it impacts our ability to meet cycle times and complete our approval. Please allow 24 hours for review of conditions. Due to the high volume we are experiencing, we are unable to accommodate any rush requests at this time and are working all files and conditions in the order in which they are received.
Please note: This is a temporary change to assist our lenders and is subject to change at any time.
Thank you for your partnership.