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September 1, 2022 |
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standardized: note and deed of trust for secondsCHFA is pleased to announce we have a new, standardized Note and Deed of Trust for lenders to utilize on CHFA DPA Second Mortgage Loans. These new documents should be used for loans with Locks made on or after September 1, 2022.While CHFA will continue to accept older versions of the CHFA loan documents, we encourage the use of these new documents at your earliest convenience. The documents are available via HomeConnectionsm and the CHFA website. Lenders should not save these documents to their systems or computers. Note: Using HomeConnection to generate loan documents will help minimize errors given auto-population of many of the entry fields. This is the result of an innovative partnership with Freddie Mac® and Fannie Mae®. CHFA is piloting this with a select number of housing finance agencies (HFAs) with the intent of nationwide adoption at a later date. CHFA and these other HFAs will all be using the same Note and Deed of Trust on their second mortgage loans. Freddie Mac, Fannie Mae, and HUD have approved and will accept these standardized documents. It’s our shared hope this creates efficiencies for us all. Please contact us with any questions. CHFA Home Finance Homeownership@chfainfo.com 303.297.7376 or 888.320.3688 Denver 970.241.2341 or 800.877.8450 Western Slope |
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