Lenders and REALTORS
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State Tax Credits for Affordable Housing Development
Feb 1, 2021 2021-03
Post-closing and Pre-closing Instructions
The purpose of this memo is twofold:
- To provide post-closing instructions regarding MERS transfer procedures for FIRST mortgages (intended as clarification of the post-closing procedural changes, which were originally announced November 3, 2020 in Memo 2020-23, and subsequently restated on November 17, 2020 in Memo 2020-25)
- To provide pre-closing instructions with respect to the requirement for lenders to add the closing date and MIN to MFA-specific documents for NEXTDown and HOMENow DPA loans only.
The two hyperlinks below will take you to the documents that contain specific step-by-step instructions for the above-referenced procedures. Please ensure that these documents are reviewed by ALL post-closing personnel and implemented immediately.
Should you have questions, please call or email: 505-843-6880 or email@example.com
Thank you for participating in MFA programs.