WHEDA Home News - June 2007

Confirmation of Funds Penalty

Due to numerous problems with funding adjustments post closing, it has become necessary to charge a fee for loans that are not closed per the Confirmation of Funds Transfer.

Effective July 16, 2007, lenders will be assessed a fee for any discrepancies that were not disclosed to us prior to the closing. This includes any changes made to the first mortgage and the Home Plus loan.

Make sure that you are closing your loan transactions as verified by the Confirmation to avoid the penalty.

View the Schedule of Fees.

If you have any questions regarding the information in this e-mail, contact Pat Multerer at 1-800-334-6873 or via e-mail at pat.multerer@wheda.com.