April 2019
Most Frequent Loan Purchase Suspense Trends
This month's most frequent loan purchase suspense trends are:

  1. Missing stamped certified true copy of the DPA Mortgage/Deed of Trust or evidence that it has been recorded
  2. Missing Final 1003 executed by both the borrower(s) and loan officer
  3. Missing Alta 9 or cleared survey on title policy
  4. MIN Summary for 1st note is missing
  5. Third-party verification of employer not located in file
Have You Responded To Our Poll? Let Us Know When You Will Begin Using Updated URLA.
Freddie Mac and Fannie Mae have redesigned the Uniform Residential Loan Application (URLA) (Fannie Mae Form 1003). The final version of Form 1003 allows the industry to begin the process of implementing the redesigned form and updated Desktop Underwriter® specification, along with any necessary technology changes.

They have set the following deadlines for using the redesigned URLA:
  • Optional: Starting July 1, 2019
  • Required: Starting February 2020

AHFA would like your feedback as to when your company anticipates using the redesigned URLA so we can develop any necessary guidelines, etc.
Please check the date you anticipate using the redesigned URLA: (select only one date)
July 1, 2019
February 2020
Want To Know More About AHFA Programs?
We'll come train you on the benefits of our homebuyer programs and how to utilize them. Our Step Up down payment assistance program and Mortgage Credit Certificates help make homebuying more affordable and help more people qualify to buy a home.

Want to know the details? We offer onsite, in-person training for all mortgage professionals! These classes include training on our programs, borrower and property eligibility, processing, documentation, income calculations and more.

Contact us today to schedule a date and time! Email Cathy James at   cjames@ahfa.com .
Alabama Housing Finance Authority | www.AHFA.com