#MyKHCHome Selfie Contest

Kentucky Housing Corporation (KHC) wants to show off you and your new KHC customers! To celebrate the home buying season, we're holding a selfie contest to get the best customer photos and stories!  

Each month, all selfies shared with us on Facebook or Twitter will be entered to win $100 gift cards. Winners will be announced in KHC's eGrams and social media. The first winner will be announced on Friday, July 1. Partners may post multiple selfies with KHC clients; however, KHC customers can only win once.

Full details and contest rules, including a printable flier, are available on KHC's website!

Down Payment Assistance HUD Memo

On May 25, 2016, Deputy Secretary Nani Coloretti, of the U.S. Department of Housing and Urban Development (HUD), issued a memorandum representing management's decision and resolution of the present disagreement between the Office of Inspector General (OIG) and the Office of Housing-Federal Housing Administration (FHA) arising out of the OIG's audit of NOVA Financial and Investment Corporation (NOVA) and its origination of FHA-insured single-family mortgages for borrowers using down payment assistance provided by an Housing Finance Agencies (HFA).

Coloretti concludes that recent FHA guidance regarding down payment assistance, including a 2012 Interpretative Rule and Mortgagee Letter 2014-13, allows HFAs and other government entities to provide down payment assistance in connection with FHA-insured loans and "places no restrictions or prohibitions on how governmental entities raise funds for their down payment assistance programs." In addition, Coloretti determines that the two local HFA programs featured in the OIG's audit of NOVA do not violate FHA rules governing gift funds or "premium pricing."

Third Party Originator Lender Training Opportunities

KHC is offering Third Party Originator Lender training. This training will cover programs, workflow, completing the Loan Estimate, and scheduling a closing. KHC sees this as a win-win for both you and KHC. If you clearly understand the program and process it is easier for you and KHC to get the borrowers to the closing table. There have been many system changes and updates that have streamlined the process for a TPO Lender. You are strongly encouraged to attend.

The two options for training are:

Thursday, June 16, 2016, 1-4 p.m.

Lexington-Bluegrass Association of REALTORS®

Boardroom

2250 Regency Road

Lexington, KY 40503

Tuesday, June 21, 2016, 9 a.m.-noon

Greater Louisville Association of REALTORS®

Conference Center

6300 Dutchmans Pkwy.

Louisville, KY 40205

Please provide the names of those from your office who will attend, and which training, to Jamie Swindler toll-free in Kentucky at 800-633-8896 or 502-564-7630, extension 329; TTY 711; or email jswindler@kyhousing.org.

RHS Single-Family Updates

On June 2, 2016, a final rule for 7 CFR Part 3555 and the revised technical handbook, HB-1-3555, will be effective for all conditional commitments issued by USDA. To help you fully understand the program enhancements and the changes to our guidance, the USDA has prepared two documents: the 3-Part Rule and Handbook Revision and the 502 Guarantee Refinance Options Job-Aid. These documents explain in detail the regulatory and handbook changes made to the sections.

MRB Special Funding Program - Going, Going, Gone

The MRB Special Funding Program monies have been depleted. Stay tuned for future MRB Special Funding Program availability later this year.