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

June 21, 2013
Wiring Funds for DPA Second Mortgages

Beginning July 1, 2013, the Commission will no longer be wiring funds to closing for second mortgages. Lenders will go back to advancing funds/wiring funds for the 2nd mortgages at loan closing.

You will need to use the revised second mortgage notes and deeds found on the forms download page on the Commission’s website with a revision date of 7/1/13. Notes and deeds starting July 1, 2013 will be drawn in the Commission’s name. We plan to have the second mortgage documents available on our website by the end of next week. Program Manual changes will follow shortly thereafter.

The letter to document the Commission’s compliance with FHA’s requirements applicable to secondary financing transactions outlined in HUD ML # 2013-14, dated May 9, 2013 will be provided electronically to the contact shown on the Pre-Closing Checklist at the time the loan is approved by the Commission to close.

Please forward this email to others in your organization needing to know this information.

Thank you for your support of the Commission’s programs and your patience as we transition back to the previous wiring process.

If you have any questions, do not hesitate to contact Dee Taylor at (206) 287-4414 or Karen Carlson-Bunce at (206) 287-4413.


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