CHAPTER 3: APPLICATION PROCESSING
HB-1-3550 INTRODUCTION This CHAPTER describes the process of accepting and managing applications, up to the point that an applicant is selected for PROCESSING . This includes pre-qualifying potential applicants, taking and reviewing applications, and selecting applications for PROCESSING . SECTION 1: PRE-QUALIFICATION OVERVIEW Pre-qualification involves using unverified information to evaluate the likelihood that a potential applicant, someone who is interested in the program but has yet to submit an APPLICATION for assistance, would be program eligible. The results of pre-qualification are not binding and will not hinder the submission of an APPLICATION . A potential applicant with possible obstacles to program eligibility may submit an APPLICATION and a potential applicant who appears program eligible is not guaranteed that a loan will be made.
Loan closing (closing process, documentation, closing costs) Post-occupancy counseling (delinquency and foreclosure prevention) Life as a homeowner (homeowner warranties, maintenance and repairs) Generally, a valid letter or certificate of completion of homeownership education that is less
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