Examples of IHCDA Online in a sentence
IHCDA will terminate rejected loans thirty (30) days after the date it is given a “Rejected” status in IHCDA Online.
Supporting documentation must be submitted electronically through IHCDA Online.
Participating Lenders are encouraged to check IHCDA Online regularly for the status of its closing packages.
When IHCDA determines that the closing package is complete and in compliance with Program requirements, IHCDA will change the status to reflect Closing Package Review “Approved” in IHCDA Online.
The Participating Lender must have a reservation number from IHCDA Online before submitting fees.
IHCDA Online will show a date on which the loan expires which is known as the Commitment Expiration Date (60 days from date of reservation), and the Participating Lender must have received final approval from IHCDA and the loan must be purchased by the Master Servicer on or before such date.
DENIED RESERVATION IHCDA may post a “rejected” status in IHCDA Online if the information included indicates that either the Mortgagor or the property or both do not meet Program requirements.
PERMANENT TERMINATION POLICY Once a reservation shows a status of “Terminated” in IHCDA Online, a Participating Lender cannot reinstate the loan.
The Participating Lender is required to input the Title Insurance Company’s ACH/routing information into IHCDA Online when the loan has reached the Committed “Approved” stage.
Neither the First nor the Second Mortgages may be closed prior to the Committed Approval Date shown in IHCDA Online.