Nevada Housing DIvision 2014 Home is Possible

Nevada Housing DIvision
2014 Home is Possible Program
COMPLIANCE FILE CHECKLIST
SERVICER LOAN NUMBER
MORTGAGOR(S)
LENDER NAME
LENDER #
CONTACT NAME
AC & PHONE NUMBER
EMAIL OF CONTACT PERSON
Binding the items below in the order indicated, assures faster processing.
_____ Compliance Review Fee of $225 Check Number ___________________
Corporate Checks only made payable to eHousingPlus
Please include name of Borrower and Loan Number on the check
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_____ THIS CHECKLIST
_____ COPY of REAL ESTATE PURCHASE CONTRACT
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_____ COPY of FINAL EXECUTED LOAN APPLICATION - 1003
_____ COPY of EXECUTED SETTLEMENT STATEMENT - HUD1
_____ COPY of WARRANTY DEED
_____ COPY of Homebuyer Education Certificate
THE COMPLETE FILE IS SUBMITTED TO eHousingPlus :
eHousingPlus, 3050 Universal Blvd., Suite 190, Weston, FL 33331
PLEASE NOTE: MORTGAGE FILE, INCLUDING CREDIT PACKAGE, AND RECORDED
DOCS ARE SENT TO U S BANK.
Date:
To Lender:
From :
Nevada Housing Division
EIN- 52-2038434
Subject:
Notice of Down Payment Closing Cost Assistance Grant - Gift Letter
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Please be advised the Nevada Housing Division is providing a down payment and/or closing cost assistance grant,
with no repayment of the grant required, to be used in conjunction with the Home is Possible program. This letter
documents that Nevada Housing Division, a division of Business and Industry of the State of Nevada (a
governmental entity) has, at or before closing, incurred a legally enfo rceable obl igation to provide the funds for a
portion of the borrower's required Minimum Cash Investment.
Borrower(s): - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Property Address: _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __
Amount of Assistance _ _ _ _ _ _ _ % of total loan amount: $_ _ _ _ _ _ _ _ _ _ __
USBankLoanNumber _ _ _ _ _ _ _ _ _ ___
CJ Manthe
Administrator
Borrower's Signature
Date
Borrower (Print name)
Borrower's Signature
Date
Borrower (Print name)
Lender keeps original letter and provides copies to the borrower, US Bank, and the FHA Case binder.
1535 Old Hot Springs Rd, #SO Carson City, NV 89706 I p:775-687-2040 I f :775-687-4040
7220 Bermuda Rd, Ste B Las Vegas, NV 89119 I p:702-486-7220 I f:702 -486-7227
www.Housing.nv.gov I [email protected]
Distribution: Original, Lender; Copies: Borrower, FHA Case Binder, U.S. Bank
•
Date
[PARTICIPATING LENDER]
[ADDRESS]
[CITY, STATE ZIP]
RE:
Legally Enforceable Obligation Letter
For HUD ML 2013-14: Commitment Letter
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This letter is to document Nevada Housing Division's (NHD) compliance with FHA's requirements
applicable to secondary financing transactions, in particular in the manner outlined in HUD ML # 2013-14.
NHD is a governmental entity as recognized by the U.S. Department of Housing and Urban Development
(HUD) and the Federal Housing Administration (FHA).
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The below referenced applicant has received a commitment for grant funds in the eHousing Plus system
equal to 4% of the final loan amount pursuant to the NHD's Home is Possible guidelines. NHD has, at or
before closing, incurred a legally enforceable obligation to provide the funds towards the borrower's
Minimum Cash Investment through a non-repayable grant which is to be used in conjunction with the First
Mortgage Loan. The originating lender must retain a copy, include a copy of this Commitment Letter in
the FHA Case Binder and send a copy to US Bank as an attachment to USB-002.
This Letter is issued in reliance upon the applicant meeting all requirements related to FHA financing and
the NHD's Home is Possible guidelines. If any material misstatement was made by the applicant, this
letter shall be subject to revocation by NHD. Further, if any such material statement was made due to
fraud, the commitment for grant funds shall be automatically null and void without further action by NHD.
Borrower(s): Property
Address:
First Mortgage Loan Terms: First
Mortgage Loan Amount: First Mortgage
Lender Loan#:
First Mortgage Servicer Loan#:
Grant Amount:
30 year, fixed rate, 360 level monthly payments
$_ _ __ __ _
Home is Possible Grant - Terms: The Grant is not repayable.
CJ Manth
Administr or
Nevada Housing Division
www.Housing.nv.gov
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[email protected]
Distribution: Original, Lender; Copies: FHA Case Binder, U.S. Bank
Underwriter’s Certification
Loan #:
Reserved:
This loan was reserved in the NHD Home is Possible Program
using funds from Nevada Housing Division
This is a confirmation of the Underwriter’s Certification, performed prior to closing. For additional details, you can view
this loan in the Edit/Update function, or print the Loan Detail Report.
In This Program
Household income = Credit income
annualized
Originator:
Loan Officer:
Ref#:
Borrower:
Co-Borrower:
FTHB:
FTHB:
Property Address:
City, State, Zip:
Census Tract:
Year Built:
County:
Employed:
Dep:
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N/T Area:
Category:
FICO:
FICO:
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Units:
Household Size:
Compliance Hhld Income:
Credit Qualifying Income:
Acquisition Price:
Closing Date:
$24,000.00
$2,000.00 (as per 1003 application)
First Mortgage:
Type:
Loan Amount: Interest
Rate:
Please refer to the Program Documents and Guidelines for applicable repayment terms(if applicable).
Certification Terms:
First Time Home Buyer Programs
I have reviewed the Federal Tax Returns for the period three years preceding closing for the mortgagor(s) and spouse (if applicable).
I have verified that a mortgage interest deduction was NOT claimed during this period.
I have verified that the mortgagor(s) have signed the appropriate notices or disclosures.
ALL Programs
I have reviewed the original 1003 Application for verification of program requirements.
I have reviewed the loan package for the mortgagor(s) named herein, and have approved this loan for the purposes of credit and
compliance with this program. (FICO, DTI, Income, Acquisition, etc.)
Affirmed by:
Originator:
Approve
Printed on:
Expiration *** CHECK TIMELINE Posted on the Loan
Date:

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