FirstHome Closing Document Changes: Notice of Potential Recapture Disclosure

Dear Participating Lenders:

Effective June 15, 2026, Housing New Mexico will be adding a new document titled, “Notice of Potential Recapture Disclosure,” to only the FirstHome program closing documents. This change is necessary to ensure that borrowers who receive Tax Exempt Mortgage Revenue Bond financing receive the required disclosure within the time set by the Internal Revenue Service. An additional 10 pages will be part of the Housing New Mexico closing document package for all FirstHome loans.

Lenders must obtain these disclosures directly from the portal at the time of compliance approval. These documents will automatically appear under the Closing Documents section. Lenders should not attempt to save a generic set of documents, as program limits that are disclosed may change without prior notice.

The borrower(s) must sign the acknowledgment indicating they are aware of recapture and have received a copy of the Notice of Potential Recapture Disclosure at closing.

The borrower-signed acknowledgment must be included in the closed loan package submitted to Idaho Housing and Finance Association (IHFA). The remaining pages of the disclosures are to be retained by the borrower(s) for their records. Borrowers with questions surrounding recapture need to consult with a tax professional, as Housing New Mexico employees are not qualified to give tax advice.

Training will be available on the following dates. Attendance is not required but highly encouraged. Please forward this information to any staff members who may not receive this notification directly.

Tuesday, June 2, 2026, 10-11 a.m., MDT Host: Eunice Duran Link to join: Join meeting
Thursday, June 4, 2026, 10-11 a.m., MDT Host: Teri Baca Link to join: Join meeting

Should you have questions, please contact a member of the Housing New Mexico Homeownership Department at 505.843.6880 or by e-mail: singlefamily@housingnm.org.

Thank you for participating in Housing New Mexico | MFA programs.