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Paperless Begins June 15!
Lenders may begin uploading electronic files beginning with reservations as of Monday, June 15, 2015. Kentucky Housing Corporation (KHC) has developed a presentation and checklists explaining required items per file type using the electronic document uploading process. This information is located on KHC's website, under Lenders, Lender Resources, Training.
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Appraisals Ordered by TPO Lenders
Third Party Originator (TPO) lenders ordering appraisals through Bluegrass Appraisal Management Inc., also known as ARIVS, must include KHC's appraisal email, khcappraisal@kyhousing.org, within the ARIVS appraisal request. If this email is not included in the appraisal request, it may delay the appraisal being delivered to KHC. Also, do not include copies of any appraisals ordered through ARIVS in underwriting packages. KHC must receive these appraisals directly from ARIVS.
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Lender Regional Trainings
KHC's Single-Family Programs will offer regional lender trainings about the paperless process, TRID, and special funding across the state in June 2015. Join us to learn how to utilize KHC mortgage products to serve your home buying clients!
Tuesday, June 9, 2015
10 a.m.-noon ET
Greater Louisville Association of Realtors
6300 Dutchmans Parkway
Louisville, KY 40205
Wednesday, June 10, 2015
10 a.m.-noon ET
Lexington Bluegrass Association of Realtors
2250 Regency Road
Lexington, KY 40503
Tuesday, June 16, 2015
10 a.m.-noon ET
Northern Kentucky Association of Realtors
7660 Turfway Road, Suite 100
Florence, KY 41042
Tuesday, June 23, 2015
10 a.m.-noon CT
Southern Kentucky Association of Realtors
180 W. Professional Park Court
Bowling Green, KY 42104
Thursday, June 25, 2015
10 a.m.-noon CT
Greater Owensboro Realtor Association
2850 Farrell Crescent
Owensboro, KY 42303
To register for any of these classes, please visit the Homeownership Calendar, available on KHC's website, under Lenders.
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Underwriting Turn-Times
KHC thanks you for your business and support! Due to high volume, minimum new file turn-time is three to four days from receipt of file and pended files minimum turn-time is two to three days from receipt of conditions. As a reminder, all pend conditions and underwriting questions must be sent to khcuw@kyhousing.org. KHC requests that all pend conditions are sent at the same time.
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Addition of Closing Agents
At this time, KHC's TPO lenders will no longer be able to add any additional closing agents. With the upcoming new TILA RESPA Integrated Disclosure, effective August 1, 2015, there will be more oversight by KHC in regards to qualifications and agreements with closing agents.
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