March 2018
Most Frequent Loan Purchase Suspense Trends

Starting this month, our regular monthly email to you will include an update on the most frequent loan purchase suspense trends seen. This month, they are:
  • AUS not matching documentation in the loan file:
    • Balances on most recent bank statement different than amounts used in AUS
    • Sales price differences
    • Property address variations
  • Signatures missing on Initial and Final Application Documentation:
    • Initial and/or Final 1003 not signed by the borrow and/or loan originator
    • Underwriter not signing the 1008 or 92100-LT
    • 9200-A Final not signed by the borrower and/or lender representative
  • Excessive number of AUS findings (exceeding 15 submissions) with no letter of explanation from lender on reason for high number of AUS submissions
Have You Heard About Hardest Hit Alabama?

If you know of any families who are facing a temporary financial hardship - job loss, unexpected medical bills, etc. - and in danger of losing their home to foreclosure, let them know about Hardest Hit Alabama. 

HHA is a foreclosure prevention program administered in Alabama by AHFA and funded by the U.S. Department of Treasury. It offers several different programs to qualified homeowners to help them keep their home. 

More information is available at www.HardestHitAlabama.com.
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Alabama Housing Finance Authority | Montgomery, AL | 334.244.9200 Email   Website