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Kentucky Housing Corporation's (KHC) Underwriting is currently experiencing high loan volume which has caused longer turnaround times. In an ongoing effort to improve underwriting turnaround times, KHC has implemented the following:
- Pre-review of files for required underwriting checklist items - Announced June 11.
- Effective Immediately: KHC Underwriters will reject loans for missing or insufficient documentation needed to make a loan decision. An example would be loan files missing income documentation needed to underwrite the loan.
- Denial Letter will state the loan file has not been and will not be underwritten until all documentation is received in the underwriting pend container.
- Jamie Swindler or Melissa Johnson will contact Lenders to review loan files that have been rejected.
- Loan files that are rejected will not receive a rush when documentation is received.
As always, the key to successful file submission is to provide everything on the
Underwriting Checklist and make sure the Automated Underwriting System (AUS) findings match the information in the file. Any questions should be directed to Jamie Swindler at
jswindler@kyhousing.org or Melissa Johnson at
mjohnson@kyhousing.org.
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As a reminder, KHC's Underwriting turn times can be located on the
Lending Partners
page of KHC's website.
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Kentucky Housing Corporation (KHC) requests your
participation in a survey about KHC's new updates to our
website, www.kyhousing.org
. We want to
ensure that we are
meeting the needs of our
users, everyone from lenders to property managers. Your feedback is
important and will help shape the website that is currently in production.
Please complete the survey by Thursday, June 25, 2020.
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