NJHMFA Lender Bulletin
Important Program Updates for Participating Lenders
September 21, 2020
Lender Bulletin 2020-13:
Reverification of Employment
Effected Programs: FTHB & Homeward Bound
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.  
A previous version of this bulletin referenced PFRS Loan Delivery,
details for which can be found in Bulletin 2020-12.
Attention Lenders:

This bulletin provides reminders of policy information previously issued via Lender Bulletin 2020-4 on April 2, 2020 related to the Reverification of Employment. This is not a change to the guidelines outlined in the previously issued bulletins, however we kindly request that Participating Lenders review the policies and adhere to the guidelines.  


FTHB/Homeward Bound Employment Verification

Employment Verifications should be performed in accordance with all current NJHMFA and Insurer/Guarantor guidelines. Lenders should review and utilize the updated  FHA, VA and USDA guidance issued separately in March, 2020.
 
Additionally, when utilizing The Work Number to perform employment verifications, it is important to pay attention to the last information update made by the employer. If that date falls outside of allowable verification window established by FHA, VA, USDA or NJHMFA, you will need to utilize the alternative employee verification processes provided in the previously mentioned guidance documents. The date on which your team accesses the information from “the Work Number” is not  valid for determining adherence to the employment verification guidelines.  

Please refer any questions or issues regarding the above to the NJHMFA Business Development Team at SFLenders@njhmfa.gov.
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