Current through Register Vol. XLI, No. 50, December 13, 2024
Section 88-1-5 - Introduction of forms; procedural guidetoprovide supplementary requirements5.1. Forms to be used in program. -- The following forms are to be used, as appropriate, in connection with the origination and servicing of Program Loans: (1) Application to Participate (Form SB-1)(2) Certificate of Resolutions (Form SB-2)(3) Counsel's Opinion (Form SB-3)(4) Authorized Signatures (Form SB-4)(5) Program Loan Purchase Agreement (Form SB-5)(6) Program Loan Servicing Agreement (Form SB-6)(7) Participating Lender Checklist (Form SB-19)(8) Qualifying Sheet (Form SB-20)(9) Request for Verification of Employment (Form SB-21)(10) Request for Verification of Deposit (Form SB-22)(11) Residential Loan Application (Form SB-23)(12) Attachment to Application (Form SB-23a)(13) Sellers' and Buyers' Certificate (Form SB-24)(14) Contractor's Bid (Form SB-25)(15) Construction Contract (Form SB-26)(16) Residential Appraisal Report (Form SB-27)(17) Map Sketch and Photograph Addendum (Form SB-28)(18) Soil Evaluation (Form SB-29)(19) Program Loan Commitment (Form SB-30)(21) Forbearance Letter (Form SB-51a)(22) Deed of Trust (Form SB-52)(23) Assignment (Form SB-53)(24) Termite Soil Treatment Guarantee (Form SB-54)(25) Health Department Approval (Form SB-55)(26) Construction Loan Agreement (Form SB-56)(27) Detail of Purchase Statement (Form SB-70)(28) Purchase Approval (Form SB-71)(29) Statement of Origination Fees (Form SB-72)(30) Mortgage Servicing Report (Form SB-101)(31) Schedule of Program Loans Added (Form SB-102)(32) Advance Installment Payments (Form SB-103)(33) Curtailments (Form SB-104)(34) Trial Balance Form (Form SB-105)(35) Statement of Delinquent Program Loans (Form SB-106)(36) Loan Paid in Full Statement (Form SB-107)(37) Assumption Agreement and Release (Form SB-108)(38) Statement of Foreclosure Expenses (Form SB-109)(39) Form of Auditors' Report (Form SB-110)(40) Notice of Delinquency (Form SB-111)(41) Servicer Recommendation (Form SB-112)(42) Letter Agreement for Servicer's Custodial Account (Form SB-113)(43) Reversed Payments (Form SB-114)(44) Assumption Approval Request MGIC MMC Form 08)(45) Custodial Account Analysis (MGIC/MMC Form 09)(46) Liquidation Recommendation (MGIC/MMC Form 10)(47) Forbearance Recommendation (MGIC/MMC Form 11)(48) Loan Payoff & Removal Report (MGIC/MMC Form 12)(49) Loan Liquidation Notice (MGIC/MMC Form 13)(50) Reinstatement of Loan in Foreclosure (MGIC/MMC Form 14)(51) Request for Reimbursement (MGIC/MMC Form 15)(52) MGIC Mortgage Marketing Corporation Description of Mortgage Delinquencies and Real Estate Owned (MGIC/MMC Form 16)(53) Certificate of Insurance (MGIC/MMC Form 18)(54) Property Inspection Report (MGIC/MMC Form 20) (55) Aggregate Exception System Remittance Exceptions (MGIC/MMC Form 470)(56) Aggregate Exception System Advice of Sub-Servicer Loan ID Change (Code 19) (MGIC/MMC Form 471)(57) Aggregate Exception System Advice of Property Address Change (Code 20) (MGIC/MMC Form 472)(58) Mortgage Remittance Summary (MGIC/MMC Form 473)5.2. Procedural Guide; amendments to procedural guide and forms. The Housing Development Fund has issued a Procedural Guide to provide additional requirements to be followed by Participating Lenders and Approved Servicers in originating and servicing Program Loans and in selling and assigning Program Loans to the Board of Investments. The Procedural Guide is hereby made a part of the contract between the Board of Investments and Participating Lenders and Approved Servicers. Because of the importance of being able to change procedures concerning such originating and servicing and related forms as needed, the Housing Development Fund reserves the right, on behalf of the Board of Investments, to amend the Procedural Guide, and to amend, substitute or supplement the forms referred to above, from time to time by sending written notice to Participating Lenders and Approved Servicers.