Attention Lenders:
Effective August 30, 2017, the following changes will be implemented:
1. Non-Borrowing Spouse Revised Guideline
- Under our new non-borrowing spouse policy, the non-borrowing spouse must sign an acknowledgement line on the last page of the 1st and 2nd mortgages, in addition to a Mortgage Acknowledgement Affidavit.
2.
Limitations on Cash Back
- The maximum amount of cash to borrower at closing will be increased from $1,000 to $3,000 to recover their POC items and earnest money deposit (EMD).
Reminder:
All Participating Lenders are required to register the Homeward Bound 1st mortgage loan in Titan Lenders Corp’s system when the loan is closed. The Homeward Bound loan should not be shipped and delivered to Titan Lenders Corp. for review until the loan has been registered. The NJHMFA loan number that is produced by the
NJHMFA Internet Loan Reservation System (ILRS) should be entered into Titan’s system. If it is not or an incorrect loan number is entered, this will cause delays in associating the hard copy file with the ILRS registration.
These delays will lengthen the loan purchase process.
If you have not scheduled a training with Titan Lenders Corp. or need additional training to complete the process, please contact Patrick Marsh at
support@titanlenders.corp or (866) 412-9180, option 6.
Please share this information with your staff.
HOMESEEKER AVAILABLE FUNDS REMAINING:
$3,552,000
