Nov 17, 2020 2020-25

IMPORTANT: Reminder of Post-Closing Procedural Changes

Note endorsement and MERS procedures will change with loans closed after November 20, 2020.

MFA will continue to engage the services of our trusted partner, Idaho Housing and Finance Association (IHFA), to facilitate the review and purchase of closed loans. Lenders will continue to upload closed loan files and ship notes and required documents to IHFA for purchase, as is the current practice.

All first mortgage loans closed after November 20, 2020 MUST be endorsed by the lender to New Mexico Mortgage Finance Authority.

Pay to the order of
New Mexico Mortgage Finance Authority
Without Recourse
Lender Name
(Signature)_________________________           
Signatory’s typed name, Title

Lenders using an allonge must also use the following for endorsement:

Pay to the Order of New Mexico Mortgage Finance Authority
Without Recourse

The procedure for second mortgage notes will remain unchanged. Second Mortgage Notes will continue to be shipped to MFA and endorsed as follows:

Pay to the order of
New Mexico Mortgage Finance Authority
Without Recourse
Lender Name
(Signature)_________________________           
Signatory’s typed name, Title

MERS registration and transfer procedures for loans closed after November 20, 2020.

ALL first and second loans MUST be transferred/assigned in MERS using MFA’s MERS ORG. ID number:  1013401.

Should you have questions, please call or email: 505-843-6881; singlefamily@housingnm.org

Thank you for participating in MFA programs.