IHFA Loan Overlays Effective Immediately |
Iowa Finance Authority (IFA) is sharing a notice from our Master Servicer, Idaho Housing and Finance Association (IHFA), regarding loan delivery requirements. Due to an increase in repurchase demands, IHFA has implemented the following overlays, effective immediately:
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For all Freddie Mac loans delivered to Idaho Housing, the following documentation must be included in the loan file prior to Idaho Housing purchase:
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- Tax transcripts (This will be post purchase for loans delivered to IHFA until the 13th of Feb.)
- Transcripts to validate any income used for qualifying.
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Documentation of delivery of the CD to borrowers three days prior to closing
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Please make note of this change and notify all parties involved in the underwriting and delivery of loans to Idaho Housing.
If you have any questions regarding this change, please contact the Homeownership Team.
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