NJHMFA Underwriting Submission Checklist Changes
In response to Lender requests for simplification of the Underwriting Submission process, NJHMFA will be condensing to one Underwriting Submission Checklist for the FTHB and Homeward Bound Loans with DPA. The new Underwriting Submission Checklist will replace the currently required, individual Underwriting Submission Checklists for the First- Time Home Buyer, HomeSeeker and Smart Start programs. Therefore, each loan file submitted for Underwriting Review will only contain one checklist.
Please note these changes are
only applicable to the Underwriting Submission Checklist
. Lenders are still required to submit the omitted documents for the Purchase Review Submission Checklist.
The New Underwriting Submission Checklist will be available on November 1, 2019; but will be required for all underwriting review submissions to the Agency effective November 15, 2019.
After November 15, 2019, the old Underwriting Submission Checklists will no longer be accepted.
NJHMFA Underwriter Review Verification (URV) Form
We have updated the Underwriter Review Verification (URV) Form with additional fields that are required to be completed. The revised form is required for all loan files submitted to the Agency for Underwriting Review.
The new URV Form will be available on November 1, 2019; but will be required for all underwriting review submissions to the Agency effective November 15, 2019.
After November 15, 2019, the old URV Form will no longer be accepted.