Most Current CHFA Forms Must Be Used Or Loans Will Be Declined

From time to time, CHFA will update documents as necessary. For example, all Compliance Review Vouchers, Purchase Submission Vouchers, and Post Closing Vouchers have been recently updated. The Seller Affidavit, CHFA Form 404, has been updated this month. The Second Mortgage Notes and Deeds of Trust will have an updated maturity date effective for all loans closed after 10.31.2008 (and will be available on the website by 10.29.2008).

It is imperative that all Participating Lenders use the most current documents when submitting loans to CHFA. Using out-dated or incorrect forms increases the number of loans suspended by CHFA and significantly delays the Compliance and Purchase review processes. All forms are available on CHFA’s website, and an eNews will be sent alerting Lenders every time a CHFA form is updated.

Some Participating Lenders upload CHFA forms into a document preparation system in an effort to enhance efficiency. Please be reminded that these Participating Lenders are responsible for maintaining the most current version of CHFA forms.

Because recent changes have been made that materially alter the content of several forms, and effective immediately, CHFA will decline (without reviewing the file) any Mortgage Loan that is submitted using out-dated forms.

Please contact the Home Finance division with any questions about this or any other CHFA policy.

303.297.7376 or 1.888.320.3688 Denver
970.241.2341 Western Slope

Thank you,
CHFA Home Finance