July 2018
Most Frequent Loan Purchase Suspense Trends

This month's most frequent loan purchase suspense trends seen are:
  • Title commitment is missing necessary ALTA endorsements for condo, PUD, or environmental or is missing the chain of title requirements for FHA/conventional loans
  • Notes are being endorsed in Blank, which requires a letter of authorization to void incomplete endorsement and an allonge to fix
  • The Underwriter's calculation for qualifying income is missing from the 92900LT, 1008, and is not submitted by separate income calculation worksheet
  • MERS Min Summary includes non-borrower spouses as co-borrower, which is incorrect
  • Missing evidence of the Home Loan Tool Kit provided to borrowers
"Your Home. Your Story." Selfie Contest Winners 
The results are in for our "Your Home. Your Story." Selfie Contest to celebrate National Homeownership Month! Twenty-nine entries were received, and more than 2,900 votes were cast!
  • 1st Place: Royale Singleton, Montgomery
  • 2nd Place: Rachel Tiffin, Clanton
  • 3rd Place: Jim Bennett, Owens Cross Roads
Thank you for getting the word out to former customers and/or voting! Some customers gave a shout out to their lender, so be sure to check out the submissions at https://woobox.com/5pnbf2. 

Also keep an eye on AHFA's social media accounts as we'll be sharing some of the selfies over the next few months. If they mention you in their entry, tag and share our post for exposure!

Latest Success Story Used Step Up Program + Mortgage Credit Certificate To Buy Home

Montgomery homebuyer  Laurel 
Teel  paired AHFA's Step Up 
program  with a Mortgag e Credit Certificate (MCC) also offered through AHFA. An MCC reduces the amount reduces the amount of federal income tax homebuyers must pay, which in turn increases available income to qualify for a mortgage.

Hear more about Laurel's homebuying journey by viewing the video.

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