Information for Single-Family Lending and Real Estate Professionals
Program Announcement

February 5, 2013
Reminders on New Closing Procedures, FHA Deficiency Letters, Reduced Extension Fees, and Manual Updates

Please forward this email on to your closers and funders.

Thank you to all of our participating lenders, closers, funders and escrow officers! We greatly appreciate your patience while implementing a new process for funding Commission Down Payment Assistance Second Mortgages in response to HUD’s interpretive rule.


Please remember to verify you are using the most current Note, Deed of Trust, & TIL for each of our Downpayment programs as shown on our Website at and then click on the corresponding downpayment program.

The Note, Deed, TIL should be drawn in the name of your lending institution as the Lender, Grantee/Beneficiary, Creditor (not the Commission).

The second notes are endorsed to the Washington State Housing Finance Commission without recourse and can be endorsed on the back side of the note. The assignment of the seconds can be concurrent or post-closing. Original documents need to be returned to you and sent to ServiSolutions with your Final Document Transmittal.

DPA Wire Transfer Forms

Please use the most recent DPA Wire Transfer Authorization Form on our Website at and make sure all blanks on the form are completely filled out. Please check form for the following:

Please complete all lines on the form.

Please type the form! Unfortunately, the handwritten forms received so far have not been legible.

Please double check your account numbers and routing numbers. If your routing numbers are not correct, you will not close that day.

Please submit requests to no later than 10:00 am (no exceptions) for a 3:00 pm recording. Please submit the form the day before or sooner if at all possible.

Please do not send the requests secured, encrypted or linked to another site. We are unable to open these documents and you will jeopardize your funding for the day.

Attached Escrow Instructions are welcome!


If your lending institution received a deficiency letter from FHA for failure to comply with the requirement that down payment assistance be provided directly at the closing table, please forward the letters to Charles Coulter at, who has pledged to follow up on them.


Rate locks have been reduced on the Rate Lock Extension Form as of 2/1/2013 as follows:

Rate Lock Extension Extension Fees
7 days 0.09375 Points
15 days 0.18750 Points
30 days 0.37500 Points


Manual changes were posted on January 29, 2013 regarding the new procedures for funding and closing downpayment assistance loans.

Home Advantage Manual

Table of Contents (.iii, .iv)
Section 1 - Introduction (1.3)
Section 7 - Reservations (7.2)
Section 10 - Loan Closing (10.2, 10.5)
Section 12 - Loan Purchase & Delivery (12.1-5, 12.7)
Section 13 - Downpayment Assistance Programs (13.6-7)
Section 19 - Frequently Asked Questions (19.5)


FHA/Conventional File Stacking Order
VA File Stacking Order
USDA Rural Development File Stacking Order
Final Document Transmittal

House Key Manual

Section 1 - Introduction (1.3)
Section 10 - Loan Closing (10.2, 10.5)
Section 12 - Loan Purchase & Deliver (12.1-12.7)
Section 13 - Downpayment Programs (13.6-7)


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