Impact Fund: 
New Procedural Manual and Mortgage Documents 

Revised Procedural Manual
Minnesota Housing has released technical changes through its Community Homeownership Impact Fund Procedural Manual available on the Impact Fund web page.
This Procedural Manual dated June 7, 2016 is effective immediately. 
Highlights:
  • Updates Green Communities Criteria terminology and required documentation list to reflect the current 2015 Enterprise Green Communities Criteria and 2016 Minnesota Overlay and Guide to the Enterprise Green Communities Criteria.
  • References the current Certificate of Administrator as to Expenditure of Deferred Loan – Bond Proceeds, which accommodates Housing Infrastructure Bond Proceeds awarded in 2015.
  • Defines Utility Connections.
  • Removes reference to the separate versions of the Impact Fund Mortgage and Impact Fund Mortgage Note (see below).
New Impact Fund Mortgage and Mortgage Note
The separate versions of the Impact Fund Mortgage and the Impact Fund Mortgage Note (one for downpayment assistance for borrowers with FHA first mortgages, another for all other transactions) have been replaced by one version each of the Impact Fund Mortgage and Impact Fund Mortgage Note.
Administrators closing and assigning deferred loans to Minnesota Housing using Impact Fund dollars should begin using these forms as soon as loan disclosure requirements allow. We will not accept prior versions of these forms starting July 1, 2016.
2016 Single Family RFP Applications Due Next Week
Remember! 2016 Single Family RFP applications are due Tuesday, June 14, 2016 at 12:00 noon. The Single Family RFP is the process through which Impact Fund dollars and partner resources are awarded. Submittals that are faxed, late, or substantially incomplete will not be accepted. Refer to the Impact Fund web page for more information.
Secure File Exchange
Our Single Family Secure File Exchange is how you'll submit the electronic copy of this year’s Single Family RFP application, and the best way to send the Household Demographic/Project Information Form and other private data to the Impact Fund team. To find it, navigate to the Partner Login section of our website or review these instructions
Household Demographic Form Reminders
As announced in the January 6, 2016 eNews and the Impact Fund Awarded Administrator Training, the Household Demographic/Project Information Form recently underwent revisions. The current version of the form is dated February 1, 2016. Please ensure your organization is using the current version. 
For a tutorial on completing the form, please see minutes 30:00–50:00 of the recorded 2015 Impact Fund Awarded Administrator Training
To submit the form to Minnesota Housing, use the Single Family Secure File Exchange and send to impact.fund.mhfa@state.mn.us.
If, with Minnesota Housing’s prior approval, you are layering or combining funds between several Impact Fund awards, please include the entire amount of Impact Fund dollars in the transaction on the form. Send a separate note to indicate the split of these dollars between the multiple awards.
eNews Archive
Wondering if you’ve missed an eNews, or looking for some information sent months or years ago? Check out our eNews Archive. Find the archive under Quick Links on the left side of our Lenders & Homeownership Partners web pages.
Questions?
Contact the Impact Fund team:
400 Sibley Street, Suite 300 | Saint Paul, MN 55101 US
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