In This Issue

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Memorial Day 
Kentucky Housing Corporation (KHC) offices will be closed Monday, May 29, 2017, in honor of Memorial Day, and will reopen on Tuesday, May 30, 2017, at 8 a.m., ET. No loan purchases or TPO Closings will take place on Memorial Day.
KHC's Minimum Credit Score Requirements Lowered
 
Effective today, KHC is lowering the minimum credit score requirement on government loans from 640 to 620, and from 680 to 660 on conventional loans. All guides have been updated to reflect this change on KHC's website, under Lenders.
GUS Access on RHS Loans for TPO Lenders
 
Effective immediately for all TPO lenders, KHC can now be selected as the Approved Lender for RHS loans in GUS. The Underwriting Checklist is updated with additional documentation for the RHS deals utilizing GUS. KHC urges all TPO lenders originating RHS loans to run their file through GUS. If you are unable to receive an approval through GUS, KHC will continue to allow a manual underwrite only on RHS loans.
KHC Administration Fees
Effective July 1, 2017, KHC's administration fee will increase from $105 to $125. This fee is charged to the borrower on all KHC first mortgage programs.
Appraisals for TPO Lenders
Effective July 1, 2017, the fee for the appraisals will be $495 for FHA and RHS loans, and $425 for Conventional loans. Final Inspection will be $150.
FDIC Increasing Access to Affordable Mortgage Credit Workshop 
Please join the Federal Deposit Insurance Corporation (FDIC) for a free workshop on how to access affordable mortgage credit. There will be a wide range of speakers, including; Fannie Mae, Freddie Mac, nonprofits, lenders, KHC, Federal Home Loan Banks, and FDIC. Learn how we can all work together to provide more affordable housing options in our state.
 
Complimentary refreshments, lunch, and copies of the three-part FDIC Affordable Mortgage Guides will be available to all attendees. Space is limited, so register by Friday, June 9, 2017
  
Sullivan College of Technology and Design
Tuesday, June 20, 2017
8:30 a.m.-4 p.m. ET 
3901 Atkinson Square Drive,
ETB Room 6/7
Louisville, Kentucky
KHC Regional Trainings
Plan on attending KHC's regional trainings this summer, open to all lenders. Look forward to new programs and updates to be announced at these trainings, and be one of the first "in the know." Please s ee dates and locations below:
 
Tuesday, July 18, 2017
10 a.m. - Noon ET
Greater Louisville Association of Realtors (GLAR)
6300 Dutchmans PKWY 
Louisville, Kentucky 40205
 
Thursday, July 20, 2017
10 a.m. - Noon ET
Northern Kentucky Association of Realtors (NKAR)
7660 Turfway Road
Florence, Kentucky 41042
 
Monday, July 24, 2017
10 a.m. - Noon ET
Lexington-Bluegrass Association of Realtors (LBAR)
2250 Regency Road 
Lexington, Kentucky 40503

Thursday, July 27, 2017
10 a.m. - Noon CT
Realtor Association of Southern Kentucky (RASK)
180 W Professional Park Ct. 
Bowling Green, Kentucky 42104
 
Space is limited; reservations are first-come, first-served. Please RSVP to jswindler@kyhousing.org with attendee names and the location you would like to attend. 
VA Home Loan Training
The Mortgage Bankers Association (MBA) of Kentucky presents VA Home Loan Training. The trainings are targeted to processors, loan officers, underwriters, closers and post-closers. Topics will include; loan processing, funding fees, obtaining a Certificate of Eligibility (COE), documents to get started, ordering a VA appraisal, credit underwriting, loan closing, submission to VA, special circumstances, and VA updates. The training dates and locations are listed below:
 
Tuesday, July 18, 2017
9:30 - 10:00 a.m., CT, Registration
10:00 - 3:30 p.m., CT, Training (lunch provided)
Realtor Association of Southern Kentucky (RASK)
180 W. Professional Park Court
Bowling, Green, KY 42104
 
Wednesday, July 19, 2017
8:30-9:00 a.m., ET, Registration
9:00-3:30 p.m., ET, Training (lunch provided)
U of L Event & Conference Center
Shelby Campus Room 201
9001 Shelbyville Road
Louisville, KY 40222
 
Thursday, July 20, 2017
8:30-9:00 a.m., ET, Registration
9:00-3:30 p.m., ET, Training (lunch provided)
Lexington-Bluegrass Association of Realtors (LBAR)
2250 Regency Road
Lexington, KY 40503
 
The cost is $69 for MBA members and $99 for non-members. Registration includes a VA binder and lunch. Register online at www.mbaky.org by Friday, July 14, 2017.

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