ADMINISTRATOR GUIDELINES 
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PARTICIPATING LENDERS
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| PROGRAM FUNDS |
Continuous Funding |
| LOAN TIME LINE REQUIREMENTS |
DO NOT RESERVE EARLY: Underwriter must Certify the loan on line 15 days after Reservation!
- Reservation to UW Cert: 15 days
- Reservation to Loan Purchase: 70 days
(Loan Timelines must be met: See below for Extension Options) |
| ELIGIBLE AREAS |
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| ELIGIBILITY CRITERIA |
- NO First-time Homebuyer Requirement
- Borrower(s) & Spouse(s) must occupy the property as their Primary Residence
- Borrower(s) and Spouse(s) must be able to permanently reside in the U.S.
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| ELIGIBLE LOAN TYPES |
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| AVAILABLE DOWN PAYMENT ASSISTANCE |
- Grant
- IMAP 2nd
- Downpayment and closing cost assistance.
- Cashback is not allowed
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| INCOME LIMIT CRITERIA |
- Must Use Income Calculation Worksheet;
- FHA
- Income limits defined at household level
- see Guidelines
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| HOME ACQUISITION LIMITS |
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| HOME BUYER EDUCATION |
- Required, see eligible providers
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| FICO SCORE, DTI & CREDIT REQUIREMENT |
- see guidelines
- no manual UW
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| CO-SIGNERS |
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| LENDER PARTICIPATION |
- Approval by Agency & UB Bank
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| FORMS AND DOCUMENTATION |
- Program forms are at the loan level. Log into eHP system and within the loan click on FORMS OR from the Menu, select FORMS
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| PROGRAM FEES |
- First Mortgage Fees, Lender Net, Loan Purchase Price are detailed in the Administrator’s Guidelines
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| THE MASTER SERVICER |
- Provides information and training concerning the mortgage loan file, acceptable loan products, delivery and funding, reviews/purchases the mortgage file
- Servicer Lender Guides, Click here
- If you need assistance getting to the Servicer Lender Guides, Click here. To contact US Bank Lender Help Desk, Click here.
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