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Information for Single-Family
Lending and
Real Estate Professionals
Program Announcement
September 21, 2011
Bank of America Discontinues RHS Loans |
File Review Unavailable Sept 26-28
MASTER SERVICER UPDATE
Bank of America’s Correspondent Lending is suspending the Guaranteed
Rural Housing program for loans with Conditional Commitments issued on
or after October 1, 2011. Correspondent Lending will continue to
purchase Rural Housing loans with Conditional Commitments issued prior
to October 1, 2011, although they must be purchased no later than
December 15, 2011.
The Homeownership Division will be attending our Housing Washington
conference in Spokane and will not be available for file review Monday,
September 26, through Wednesday, September 28. Please plan accordingly.
The Commission will soon release a Request for Proposal (RFP) for Master
Servicer. When the RFP is ready, an email notice will go out to our
Lender Contact at your corporate offices for each lending institution
with a link to the RFP posted on our Website. Please stay tuned.