Information for Single-Family Lending and Real Estate Professionals
Program Announcement

September 13, 2012
Changes to Rate Lock Extension and USRD Policy

Manual changes are available for download at:

Rate Lock Extensions

We changed the Rate Lock Extension policies. We added a 7 day rate extension as an additional option. Also, rate lock extension fees must now be collected and sent via ACH wire to the Washington State Housing Finance Commission. Please review the manual updates in Section 10 for complete wiring instructions.

For loans closed with extension fees prior to the release of the policy, the Commission will contact the lender with the amount owed.

US Rural Development Loans

Our Home Advantage rate regularly exceeds US Rural Development’s maximum rate limit since they set their maximum daily rate at Fannie Mae’s 90 day delivery rate plus .6% rounded up to the nearest ¼%. Due to their policy, we will no longer offer US Rural Development in our reservation system as an allowable loan type. If you wish to use this underlying mortgage, please contact the Commission for an exception to verify upfront the rate meets US Rural Development’s qualification on the day of reservation.

Please contact Lisa DeBrock at 206-287-4461 or with any questions.


Home | About | CareersCommissioners | Contact UsEventsMy View Newsletter | Publications | Homeownership: Homebuyer Programs | Information for Lenders | Information for Real Estate Professionals | Information for Instructors | Multifamily Housing: 9% Housing Credit | Bond/Tax Credit | 80/20 Bonds | 501(c)(3) Housing BondsSpecial Programs: Energy | Farmer/Rancher | Nonprofit FacilitiesLand Acquisition Program | Property Managers: Asset Management and Compliance Information for Investors: Official Statements, Annual Reports, Interim Information |  Privacy Notice | Requests for Public Records
Washington State Housing Finance Commission 
1000 2nd Avenue, Suite 2700, Seattle, Washington 98104 | Phone: 206-464-7139 or 800-767-4663 | Fax: 206-587-5113 | Contact Us
©1998-2018 All Rights Reserved