California Housing Finance Agency (CalHFA) will require lenders to use the newest version of the CalHFA State Reporting Disclosure, according to an announcement this week.
The revised form updates the First-Generation Homebuyer language. CalHFA encourages lenders to use the updated form starting immediately and the new form will be required for all reservations starting March 1, 2024.
Loans with reservation dates on or after March 1, 2024 submitted to CalHFA with the old form will be subject to suspension.
For questions about this bulletin, contact CalHFA Single Family Lending Division by phone 916.326.8033 or by email at SFLending@calhfa.ca.gov. Plus you can always visit CalHFA’s website at: www.calhfa.ca.gov or Single Family Lending directly at www.calhfa.ca.gov/homeownership.
View the CalHFA State Reporting Disclosure on page 2 here.
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Using the above phone number and email address, you can gain access to a knowledgeable team that’s ready to address all your credit union’s compliance inquiries — promptly and efficiently. With the Compliance Hotline, you can proactively respond to impromptu questions and issues by getting clarity and insight on technical topics that normally slow you down. We want to help you unlock the full potential of your League membership by leveraging the resources and support you need to navigate the complex world of compliance effortlessly. We’re ALWAYS just a phone call or email away!
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For more information, email Lisa Quaranta.
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