Helpful Reminders for Faster Loan Purchase
Reduce delays in the purchase of your loans by avoiding these common errors:
COVID-19 Attestation Form Required
- U.S. Bank Home Mortgage – HFA Division requires a COVID-19 Attestation Form in the loan file. For your convenience, we added this form to our commitment system.
Verify 2nd Note and Mortgage are Correct
- Prior to closing, double check the 2nd note and mortgage. Common errors include an incorrect property address or incorrect 1st mortgage loan amount (e.g. government loans must reflect total loan amount not the base loan amount if the borrower is financing the funding fee/UFPMI).
2nd Mortgage Assignments
- Don’t forget the assignment of the 2nd Mortgage to Minnesota Housing and related endorsements/allonges. See instructions.
- Remember to sign pages 3 and 4 of the 92900A.
Deliver Loans Quickly
- Best Practice: Deliver loans within 5 business days of closing.