Lender Resources: Loan Documentation

Lender Resources: Loan Documentation


Documents and Document Descriptions

Making Changes to Documentation

  
Notes
collapse Document Requirement : Attachment R ‎(1)
[Attachment R] Request for Change to Reservation of Funds Form
​Used to make changes to the borrower's reservation for the 1st and 2nd mortgages.

First Mortgage Pre-Closing

  
Notes
collapse Document Requirement : Checklist ‎(1)
[Attachment CC] MBS Pre-Closing Compliance Checklist

​Details the stacking order of the 1st mortgage pre-closing compliance package that is submitted via Lender –Online eDocs.

collapse Document Requirement : Documents that are ALWAYS REQUIRED ‎(9)
[Attachment C] Homebuyer Education - Lender Certificate of Completion
Lender's verification that the borrower(s) completed their homebuyer education. Note that current document refers to Homebuyer Education as "Housing Counseling".
[Attachment D] Income Eligibility Worksheet and Lender Certification
DHCD's eligibility income determination form.
Borrower's Affidavit for Refinance Loans
The borrower(s) application for the mortgage loan cannot be accepted unless this affidavit is completed.
Buyer's Affidavit
Used by DHCD to ensure that the Borrower/Buyer qualifies for the Mortgage Loan. Use the applicable form based on the type of program reserved.
IRS Form 4506T
Used to request a copy of the borrower(s) tax return.
​Notice to Borrower for Calculating Potential Recapture Tax (06/13/2017)​
For loans reserved on or after 06/13/2017. DHCD will reimburse any MMP homebuyer, who settled on their home on or after July 1, 2005, the amount of any recapture tax that the homebuyer pays in connection with the sale of their home.​​
Notice to Borrower for Calculating Potential Recapture Tax PreClose (05/16/2016)
​​​For loans reserved on or after 05/16/16 but no later than 6/13/17DHCD will reimburse any MMP homebuyer, who settled on their home on or after July 1, 2005, the amount of any recapture tax that the homebuyer pays in connection with the sale of their home.​​
Notice to Borrowers
Explains that the loan is being financed through DHCD with a below-market interest rate, and that the loan may not be assumed by a person ineligible for assistance from DHCD.
Sellers Affidavit
The borrower(s) application for the mortgage loan cannot be accepted unless this affidavit is completed.
collapse Document Requirement : Documents that are SOMETIMES REQUIRED ‎(8)
[Attachment A] Separation Affidavit
Required when the borrower or co- borrower are separated.
[Attachment F] Asset Test Worksheet
Required when the borrower(s)' assets exceed 20% of the sale price.
[Attachment J] Affidavit in Lieu of Current Year's Tax Return(s)
Required when the borrower or co-borrower has not yet filed their current year's tax return (i.e. April 15th or October 15th filings have not taken place).
[Attachment N] Additional Buyer's Affidavit Relating to Business Use of Residence
Required when the borrower(s) will be conducting business at their residence.
[Attachment S] Affidavit Regarding Not Being Required to File Tax Return(s)
Required when the borrower(s) is not required to file Federal Tax Returns.
[Attachment T] Certification of Pregnancy
Required if pregnancy will be used to determine total size of the household as 3 or more.
[Attachment V] Veteran First Time Homebuyer Exemption Certificate
Required when the borrower(s) is using their DD214 for 1st time homebuyer’s exemption.
Borrower's Affidavit for Refinance Loans Only
Required when the borrower is doing an FHA Streamline Refinance.

Second Mortgage Pre-Closing

  
Notes
collapse Document Requirement : Checklist ‎(1)
[Attachment DD] DPA Pre-Closing Compliance Checklist
The form details the stacking order of the 2nd mortgage pre-closing compliance package that is submitted via Lender –Online eDocs.
collapse Document Requirement : Documents that are ALWAYS REQUIRED ‎(1)
DPA Borrower's Application and Affidavit
This is the borrower(s) acknowledgement that they have financed certain settlement expenses for purchasing a home using DHCD’s MMP funds. Note that document refers to DPA as “Downpayment and Settlement Expense Loan Program” or DSELP.
collapse Document Requirement : Documents that are SOMETIMES REQUIRED ‎(4)
Builder Developer Incentive Program (BDIP) - Verification of Contribution
The participating partner has agreed to provide a financial contribution under BDIP program.​​
Community Partner Incentive Program (CPIP) - Verification of Partner Contribution
The participating partner has agreed to provide a financial contribution under CPIP program.​​
DPA Attachment D - Request for Lien Exception
House Keys 4 Employees (HK4E) - Verification of Partner Contribution
The participating partner has agreed to provide a financial contribution under HK4E program.​​

Smart Keys 4 Employees

Note - No standard documentation. Smart Keys 4 Employees is only available as a companion program to House Keys 4 Employees

Both of the following items are required Smart Keys 4 Employees documentation:

  1. Printed map showing that property is in a Priority Funding Area – see MMP Mapper OR confirmation email from christina.james@maryland,gov confirming property is new construction in a Priority Funding Area (if address is not found on the Department Mapper site); AND
  2. Printed driving directions showing that property is within same County as employer OR is within 10 miles of employer’s location

Base Realignment and Closure

Note: No standard documentation

Eligible federal agency employees must present a copy of their relocation orders: Permanent Change of Station Orders DD1614 or other forms documenting both their employer’s relocation to Maryland from another state and the employee’s entitlement to relocation costs or expenses.

Closing

  
Notes
collapse Document Requirement : Documents that are ALWAYS REQUIRED for DPA Loans ‎(1)
[Attachment W] Wire Instructions for DPA Loan Funds
​Attachment W is downloaded as part of the closing package and submitted after Post-Closing Compliance approval.​​
collapse Document Requirement : Documents that are ALWAYS REQUIRED for MMP Loans ‎(9)
Buyer's/Borrower's Confirming Affidavit
The borrower(s) will be required to execute a second Affidavit on the date of closing re-confirming the information from the Borrower’s Affidavit.
DPA Closing Instructions
Instructions on downloading this documentation from LOL.  Click on document for details.​​
DPA Commitment Letter
Instructions on downloading this documentation from LOL.  Click on document for details.​​
DPA Deed of Trust
Required for 2nd mortgage DPA loans, the document is executed for the total amount of funds received from DHCD.​​​
DPA Deed of Trust Note
Required for 2nd mortgage DPA loans, the document is executed for the total amount of funds received from DHCD.​​
Notice to Borrower for Calculating Potential Recapture Tax (05/16/2016)
​​​For loans reserved on or after 05/16/16 but no later than 6/13/17DHCD will reimburse any MMP homebuyer, who settled on their home on or after July 1, 2005, the amount of any recapture tax that the homebuyer pays in connection with the sale of their home.​​
Notice to Borrower for Calculating Potential Recapture Tax (06/13/2017)

For loans reserved on or after 06/13/2017. DHCD will reimburse any MMP homebuyer, who settled on their home on or after July 1, 2005, the amount of any recapture tax that the homebuyer pays in connection with the sale of their home.​​​

Seller's Confirming Affidavit
The seller(s) will be required to execute a second Affidavit on the date of closing confirming the information from the Seller’s Affidavit.
Tax Exempt Finance Rider
Document is recorded with the 1st mortgage Deed of Trust.

Post-Closing First & Second Mortgage

Upload and submit each checklist/package in PDF format via eDocs on Lender Online.

  
Notes
collapse Document Requirement : Checklist ‎(2)
[Attachment EE] MBS Post-Closing Compliance Checklist

​The form details the stacking order of the 1st mortgage post-closing compliance package that is submitted via Lender –Online eDocs.

[Attachment FF] DPA Post-Closing Compliance Checklist
The form details the stacking order of the 2nd mortgage post-closing compliance package that is submitted via Lender –Online eDocs.
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