Paperless Open for Business!   

Kentucky Housing Corporation (KHC) paperless system is now accepting Internet Explorer versions 9, 10, and 11.  

For multi-functional devices and scanners, the settings listed below must be made standard to insure the quality of scanned files is optimal: 

• 300 dpi
• Black & White (not grayscale as that that will create significantly larger image files that will not be accepted by most investor partners.)
• Auto-Sense Page Size
• TIFF images
• No Page Scaling

If you have questions please or issues with the settings, please contact your technical support staff.      

Keep in mind that if the file began as a true paper file, then it will finish as a paper file. If a paper file has not been sent in for underwriting, then Correspondent and Third Party Originator (TPO) Lenders may begin submitting their files electronically. Follow these helpful tips for a successful electronic delivery:

• Once a lender uploads the initial electronic underwriting bundle, but inadvertently forgets an item, please send that item to underwriting at khcuw@kyhousing.org.
• All electronic uploads, received after 3 p.m. ET, will be logged in the following business day.
• Delegated lenders will upload the closed loan bundle, which includes the credit package and the security documents bundle. The final appraisal will be uploaded seperately to the appraisal bundle.
• TPO lenders will need to submit pre-closing items through the Schedule Closing tab without including them within the electronic upload of the underwriting bundle.
• Lenders must continue to send any additional items required by KHC on true paper files to khcuw@kyhousing.org and khcpc@kyhousing.org.

If you have any questions, please contact the Single-Family Hotline at 502-564-7630, extension 291. The electronic checklists of required documents and a Electronic Upload Training power point are both located on KHC's website, under Lender, Lender Resources, Training. 

Appraisal Ordering for TPO Lenders 

Currently KHC requires all TPO Lenders to order the FHA and Conventional Appraisals through Bluegrass Appraisal Management Inc. Effective Saturday, August 1, 2015, KHC will require the addition of RHS Appraisals to be ordered through Bluegrass Appraisal Management Inc.

New Single-Family Staff 

There are new voices answering KHC's Single-Family Hotline, Loretta Hoskins and Katie Garrison are available for customer service calls. We also have Felicia Reagan joining our closing and quality review team. Please give them a warm welcome when you speak to them. Along with new members, we are also excited to welcome back Jaime Williamson to Single-Family!

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!  

MRB Special Funding Program  

Who can qualify for this deal? 

• Households that do not exceed $35,000 gross annual income, and meet ONE of the following:

• At least one home buyer is 62 years old or older.
• At least one member is disabled and is receiving disability income.
• A single- or two-parent household with at least one dependent child under the age of 18 living in the home.

Special Funding qualifications included: 

• Must be a first-time home buyer, unless property in a targeted county.
• Regular and Affordable Down payment Assistance Program available.
• Existing and new construction (purchase price limit of $115,000).
• 640 minimum credit score.
• FHA, VA, and RHS first mortgage options.

A downloadable MRB Special Funding Program flier is available on KHC's website, under Lenders, Marketing Tools.  
 
Make someone happy today by telling them, even with lower income, their dream of homeownership can be a reality.