Lenders and Real
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Information for Single-Family
Lending and
Real Estate Professionals
Program Announcement
October 27, 2016
Current MCC Allocation Has Only $1 Million Left
Dear MCC Program Contact:
The current MCC Allocation has $1 million remaining and is expected to be fully reserved in the next couple of days. Once fully allocated the Commission will no longer accept reservations under this allocation. Please log into MITAS to see how much is available as no further updates will be forthcoming.
Once fully reserved, if your lending institution currently has customers in the pipeline without a reservation, you are then welcome to place your borrower on a wait list. The loan originator will need to log into MITAS, enter a new reservation and your request will be placed in “waitlist” status.
We will place the borrowers under a “reserved” status once a loan in our current pipeline cancels or when the new allocation becomes available.
A new allocation of $60 million is anticipated to be available mid-December. We will provide an update in December, but as today, we do not expect to have additional MCC funds for the remainder of 2017.
Please pass this announcement on to the staff at your lending institution involved in this program.
Please contact me at Corinna.obar@wshfc.org if you have any additional questions.