Feb 1, 2021 2021-03

Post-closing and Pre-closing Instructions

The purpose of this memo is twofold:

1. 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)
2. 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.

1. Post-closing instructions
2. Pre-closing instructions

Should you have questions, please call or email: 505-843-6880 or singlefamily@housingnm.org

Thank you for participating in MFA programs.