Please share the following reminders and updates with your staff and closing agents:
- The Assignment of Mortgage should NOT be recorded until the loan is certified for purchase by Titan and NJHMFA agrees to purchase your loan(s). The final title binder should be submitted only after all applicable assignments have been recorded. For information on this process, please refer to the Seller's Guide, Chapters 1 and 9.
- Loans closed in MERS will be rejected, rather than suspended. Please refer to the Seller's Guide, Chapter 10, Section 10-7 (B) (7), for additional information.
- Power of Attorney (POA) requests for either the borrower or seller must be submitted to the New Jersey Housing and Mortgage Finance Agency prior to loan closing. “Authorization to Close” letters are not acceptable in lieu of the POA. Please refer to the Seller’s Guide, Chapter 9, Section 9-9, for additional information.
HOMESEEKER AVAILABLE FUNDS REMAINING: $10.8 million