NJHMFA Lender Bulletin Important Program Updates for Participating Lenders

July 13, 2020

Lender Bulletin 2020-10: Suspension of Refinance Transactions Under the PFRS Program

Effected Programs: PFRS Programs Effective Date: July 16, 2020

Due to the current health concerns related to COVID-19, the vast majority of NJHMFA staff will be working remotely until further notice. Please contact Agency staff via their work email address. NJHMFA encourages all of our business partners and constituents to submit any and all documentation in an electronic format whenever possible as staff will continue to check email and review information submitted electronically.

Attention Lenders: Effective July 16, 2020, the Police and Firemen’s Retirement System Mortgage Program will suspend applications for refinance transactions. Existing PFRS Refinance Loans reserved on the NJHMFA ILRS will be not be impacted and are eligible for sale to NJHMFA / PFRS. Home purchase applications under the PFRS program are not impacted and will continue to be accepted. PFRS refinance reservations will only be accepted on NJHMFA ILRS through the close of business on July 15, 2020. All applications taken by lenders must have a complete submission via NJHMFA ILRS by the close of business on July 15, 2020.

Questions? Need Help?  If you have questions about one of our loan products or need help with a loan in the ILRS system, please e-mail your requests to   SFLenders@njhmfa.gov .  Access Forms, Checklists, Policies, Previous Lender Bulletins and More at the Lender Resources Page: www.njhousing.gov/lenders/

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New Jersey Housing and Mortgage Finance Agency | 609-278-7400 | NJHousing.gov