Dec 5, 2024 2024-15

Lender Recertification Fee and Automated Platform for Document Submissions

Dear Participating Lenders:

Effective January 1, 2025, Housing New Mexico | MFA will charge participating lenders a non-refundable fee of $500 for recertification. Lenders will submit required documentation through COMERGENCE℠ by Optimal Blue (Comergence).

Housing New Mexico is required by the GSEs to perform due diligence reviews of participating lenders annually. Recertifications are performed yearly based on the anniversary of the lender’s last approval date. Lenders will be notified when their recertification is due and will be given instructions for using the Comergence system.

Utilizing Comergence, an automated platform, will result in a more efficient, consistent, and secure process for participating lenders and Housing New Mexico. Recognized as a leading provider of third-party oversight solutions, Comergence is already a trusted partner to several investors, lenders and housing finance agencies.

The system allows lenders to upload sensitive documents to their secure library and, upon specific authorization, make them accessible to multiple entities within the Comergence participant network.  This platform creates efficiencies by helping to reduce the need for lenders to manually transmit the same commonly required documents to one investor at a time.

The fee will serve to offset, in part, the cost of the resources utilized.

Your cooperation and understanding are greatly appreciated.

Should you have questions, please contact a member of the Housing New Mexico | MFA Secondary Market Department, Teri Baca and/or Eunice Duran at 505-843-6880.

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