Transcription of Home AdvantagePLUS Mortgage Program Guide - NCHFA
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Home AdvantagePLUS Mortgage Program Guide - NCHFA
NC home advantage MortgageTM. Program Guide North Carolina Housing Financing Agency 3508 Bush Street 1|P age Raleigh, NC 27609-7509. (919) 877-5700. NC home advantage Mortgage TM. Table of Contents __. 1. Introduction 5. 2. Definitions 8. 3. Lender Participation Guidelines 14. Lender Participation Guidelines 14. Online Lender Services System (OLS) 15. Record Retention 16. Annual Recertification Requirements 16. Program Guide Updates & Revisions 16. Master Servicer Contact Information 17. Lender Compensation 18. Lender's Responsibility to Report Violations 18. 4. loan Eligibility Guidelines 19. NC home advantage Mortgage loan Program Overview 19. Eligible loan Types 20. Mortgage Insurance Coverage Requirements 21. Escrow Holdbacks 22. Ineligible Loans/ loan Types 23. Down Payment Assistance 23. Lien Position Policy 26. Principal Reduction Policy 27.
NC Home Advantage Mortgage TM 6 |P a g e Rev 1/2019 This guide is not a substitute for lender training classes offered by NCHFA on a recurring basis for the benefit of loan officers, operations personnel, and other mortgage staff.
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