Important Information - VHDA Program Updates
To: All Originating Agents
Date: December 2, 2005
Flexible Alternative Loan Program - Loan Limit Increase:
Loan limits for all Flexible Alternative loan programs have increased to the new conforming loan limit of $417,000 effective with loan closings beginning January 1, 2006.
Year End Delivery of closed Loan Packages:
Due to critical timelines in meeting IRS 1098 reporting requirements, all loan packages and closing interest for loans closed through December 15th must be received at VHDA by December 30th, 2005. Settlement agents should provide a faxed copy of the signed Note and HUD-1 Settlement Statement on loans closed December 16th through December 31st to VHDA by January 3, 2006. The documents should be faxed to the attention of Andrea Kelly at 804-783-6728.
VHDA Holiday Schedule:
VHDA offices will be closed the following dates:
Friday, December 23, 2005
Monday, December 26, 2005
Monday, January 2, 2006