Loan Purchase Suspense Trends & Clarification on Funding Fee
November 2018
Most Frequent Loan Purchase Suspense Trends
This month's most frequent loan purchase suspense trends seen are:
Missing evidence from the Mortgage Insurance Company that the policy has been activated within 30 days of closing.
The Deed of Trust is not stamped “Certified True Copy”
Mortgage Insurance coverage must match the coverage requested in the Desktop Underwriter findings
Missing third party verification for the borrower’s employer (Google printout, etc.)
MERS MIN Registration Summary is missing
Holiday Notice & Funding Schedule
Our office will be closed Thursday, November 22 and Friday, November 23 in observance of the Thanksgiving holiday.
We will have one loan funding for the week on Wednesday, November 21.
Do you take pictures with clients who you've helped purchase a home? If they used an AHFA program to buy (Step Up program and/or Mortgage Credit Certificate), send your photo to us or post it on social media, and we'll promote it across all of our social media channels and on our website!
Next time you snap a pic with an AHFA customer, you can either:
We'll boost the posts to increase impressions and let more Alabamians know you can help making homebuying more affordable by introducing them to AHFA! We'll also include it as a News Item on our www.AHFA.com website.
