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KHC Website Unavailable
Kentucky Housing Corporation (KHC) website is currently unavailable. We are aware of the issue and are working to remedy it. We will send another eGram when the site is up and running.
Thank you for your patience.
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#MyKHCHome Selfie Contest
Thanks to Beverly Isom with KCEOC Community Action Partnership for kicking off the selfie contest!
Kentucky Housing Corporation (KHC) wants to show off you and your new KHC customer, while celebrating the home buying season.
Just snap, tag, and win! 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!
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RHS Streamlined - Assist Refinance Program
RHS Refinance Pilot has been renamed RHS Streamlined-Assist Refinance Program. RHS no longer limits lender compensation, so Delegated and Correspondent Lenders will earn 2.5 percent and Third Party Originator (TPO) lenders will earn 2.0 percent on every deal. The Secondary Program Guide has been updated and is available on KHC's website, under Lenders.
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Mortgage Letter 2016-08
The Federal Housing Administration (FHA) revised the Mortgagee Letter 2016-08, which provides guidelines for lenders when calculating student loan obligations for use in a borrower's debt-to-income ratio calculation. Consistent with industry practice the revised guidance allows the same calculation criteria to be applied regardless of student loan payment plan type (such as income-based payment plans) or deferral status. Lenders may begin using the new guidance immediately, but must use the guidance for all case numbers assigned on or after Thursday, June 30, 2016.
The new guideline requires, regardless of the payment status, the lender to use either:
- The greater of:
- 1 percent of the outstanding balance on the loan; or
- the monthly payment reported on the Borrower's credit report; or
- The actual documented payment provided the payment will fully amortize the loan over its term.
For more information, please review the update available on the U.S. Department for Housing and Urban Development (HUD) website.
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