Homeownership Programs Division
PURCHASE SUBMISSION CHECKLIST
Please Indicate: Delegated Underwritten __Yes __No
(Prior approval is required before delegated authorization is granted)
PRIMARY BORROWER’S FULL NAME
Last First Middle
PRIMARY BORROWER’S SS# LENDER LOAN #
CLOSING / CONVERSION/ FUNDING FIRST PAYMENT DUE DATE
DATE The 1 st d ay o f t he 2 nd m onth following t he “ Closing,
Later o f: d ate l oan closed OR conversion da te conversion or f unding da tes” *OR for l oans c losing/funding
by the 5 th calendar da y of t he month, pa yments c ould a lso
(construction completion date).
begin on the 1st of the month following closing.
ORIGINAL LOAN AMOUNT
Sub Issue:_________ Issue:_________
(Mortgage amount as it appears on the Mortgage Note)
Loan Type (circle one):
CONVENTIONAL FHA VA RHS
LENDER NAME: __________________________________________________
SHIPPER NAME SHIPPER’S PHONE #
The Purchase Submission Package is due the EARLIER of: (a) anytime within 21
calendar days from closing date BUT (b) never later than the reservation expiration
date. Late fees will apply if deadline is not met.
DIRECTIONS: The Lender is responsible to accurately complete each line on this Purchase Submission Checklist and
prepare the “THREE FOLDER” purchase submission package as indicated on pages 2, 3, and 4. Place an “X” next to
each item included with this Purchase Submission package or indicate “N/A” if not applicable. Place the original (O), copy
(C), lender certified copy (CC) or previously submitted (P) next to each item applicable to this purchase submission in the
order listed on this checklist. You will find all Forms and Appendices required on this checklist in the PHFA Sellers Guide
on the web.
PHFA USE ONLY
Pre-Review Lender # ACCESS/KPAL/HS $ Pur. Date:
Review HLDBK $ OTHER $
Page 1 of 4
PURCHASE SUBMISSION FOLDER - [FOLDER #1]
(Place Page 2 of Form 58 on top of documents)
IMPORTANT INFO: If any one of the following items are incomplete, incorrect or missing from Folder 1-DO NOT send the
file to the Agency.
Legend key for columns below
Document Type: O = ORIGINAL C = COPY CC = LENDER CERTIFIED COPY P = PREVIOUSLY SUBMITTED
Program Type: D = DELEGATED H = HOME PURCHASE (KEYSTONE HOME LOANS WITH OR WITHOUT
ASSISTANCE) G = KEYSTONE GOVERNMENT
‘X’ or Program Doc DIRECTIONS: ACCO FASTEN THESE DOCUMENTS TO TOP RIGHT SIDE
PHFA N/A Type Type OF THE LEGAL
SIZE PURCHASE SUBMISSION FOLDER #1
D/H/G 1) Purchase Submission Checklist. (Form 58, pg. 2):
____Page 1 is to be stapled to the front of the Purchase Submission Folder
O ____Pages 2 & 3 are to be in folders (acco-fastened to the folder)
____Page 4, Service Release Package can be in folder or fastened with a
D/H/G C 2) Credit Pre-Compliance Approval Notification – Attach the documents that are
needed to clear the conditions to the approval notification.
D/H/G O or C 3) An Escrow Agreement regardless of whether PHFA or the Lender is holding
escrowed funds on behalf of the borrower. Note: If PHFA is holding the escrow
our Form 65 must be completed indicating that PHFA is holding the funds, the
items escrowed, dollar amount, the completion date & include the check in this
H/G C 4a) Form 49 for Access Home Modification Loan if PHFA will be holding the escrow
and the Lender is seeking reimbursement for an Initial Payment made to the
contractor at the Loan Closing.
H/G C 4b) Form 49 for the Purchase & Improvement Loan if PHFA will be holding the
escrow and the lender needs to remit to the Agency any or all of the improvement
funds sent by PHFA to the Lender. [Lender would be remitting less than the full
escrow if funds were disbursed as an Initial Payment to the contractor at the Loan
D/H/G O or C 5) Certificate of Counseling (credit scores below 660) – Include if not attached to the
PHFA approval – Item #2 above.
D/H/G O or C 6) Final signed and dated Loan Application (1003).
D O, C 7) Mortgagor’s Affidavit of Eligibility (Form 3), completed, signed, and dated as of
or P application. If Borrower’s income has changed or loan did not close within 4
months of application date, provide a new signed and dated income certification
(Form 3, page 2).
D/H O or C 7A) Mortgagor’s Affidavit Reaffirmation page signed and dated as of loan
closing (Form 3 page 4).
D O or C 8) Affidavit of Seller (Form 3, page 6), completed, signed and dated.
D/H O or C 9) Recapture Tax Notice (Form 4). Include both pages of the form. Page 1 must be
signed and dated by the borrower (s) and the maximum recapture figure must be
listed in Section B.
D/H/G O or C 10) Miscellaneous items not requested on the Lender’s Approval Notification, Purchase
Submission Checklist or Service Release Transmittal but are applicable to this
D O, C, or 11) Underwriting/Compliance Package including Form 51 (Submission Checklist)
P with Documents. (Only required if lender has delegated authority & compliance
package was not previously submitted.)
SUBORDINATE DOCUMENTS: (Submit documents in a separate file folder.)
D/H/G O 12) PHFA Second Lien Subordinate Mortgage Note and Truth-In-Lending Disclosure
(Form 54, 54A (HOMEstead) or 54T/C (Tax Credit Advance).
D/H/G O or C 13) PHFA Second Lien Subordinate Mortgage (Form 55) or Tax Credit Advance
Mortgage (Form 55 T/C) with evidence document was sent for recording.
D/H/G O or C 14) PHFA Second Lien Subordinate Mortgage Needs Assessment Form
The “Final Loan Certification” section is to be completed and signed by Lender.
Please note: If the total amount issued was not used please attach to the HUD 1 a
check payable to PHFA for the difference. This is only required when Forms 61
and Homestead Appendix 3 are used. (Form 56 is not required)
D/H O 15) PHFA Third Lien Subordinate Mortgage Note and Truth-In-Lending Disclosure
D/H O or C 16) PHFA Third Lien Subordinate Mortgage with evidence document was sent for
recording (Form 55)
END OF FOLDER #1
Page 2 of 4
FIRST MORTGAGE FOLDER - [FOLDER #2]
(Place Page 3 of Form 58 on top of documents)
Instructions: If any one of the following items is incomplete, incorrect or missing from Folder 2-DO NOT send the file to the
Agency, it will be ineligible for purchase. The following items must be present for ALL Program Types: Items are: 2,3,4,5,6,7,8 &
O = ORIGINAL C = COPY CC = LENDER CERTIFIED COPY
PHFA Lender FIRST MORTGAGE DOCUMENTS
DIRECTIONS: ACCO FASTEN THESE DOCUMENTS TO TOP RIGHT SIDE OF A LEGAL SIZE FOLDER #2
N/A AND PLACE INSIDE THE PURCHASE SUBMISSION FOLDER #1
1) Borrower(s) full name written on top tab of folder, last name first.
O 2) First Mortgage Note with a signed endorsement to the Pennsylvania Housing Finance Agency
___(a) ___(a) (a) Loan Amount and P & I Payment are correct;
___(b) ___(b) (b) The Interest Rate is the PHFA reserved rate disclosed on the Approval Notification;
___(c) ___(c) (c) First Payment Date: 1st day of the 2nd month following the date of closing, funding
or construction conversion. For loans closed/funded by the 5th calendar day of the month, the
first payment date could be the first day of the month following closing if the loan closed with an
interest credit or short interest.
(d) Maturity Date: One month preceding the 1st payment date plus 30 years;
___(d) ___(d) (e) Late Charges: (15 days after due date) 4% FHA, VA and RHS Guaranteed;
___(e) ___(e) 5% Conventional;
(f) All First Mortgage Notes submitted for purchase must have the following Legible
___(f) ___(f) Endorsement: “Pay without recourse to the Pennsylvania Housing Finance
Agency”. Endorsement to be signed by an authorized officer of the lender. Lender’s
name should appear above signature of officer. Officer name and title to appear with the
(g) If applicable, Legible Endorsement from an authorized affiliated entity to the
___(g) ___(g) participating lender submitting loan for purchase. “Pay without recourse to
_______(name of PHFA participating lender submitting loan package)”. Must be
signed by an authorized officer of the affiliated entity.
O 3) Co signer certification (Form 21), if applicable.
O 4) Addendum to Note/Construction Loan (Form 19), if applicable.
CC 5) Mortgage Instrument with the following attachments and evidence document was sent for
___(a) ___(a) (a) Legal description;
___(b) ___(b) (b) Condo or/PUD Rider.
O or C 6) Mortgage Modification Agreement (Form 40), if applicable.
CC 7) Assignment of First Mortgage (Form 20), assigning the mortgage to the Pennsylvania Housing
Finance Agency with evidence the document was sent for recording such as:
___(a) ___(a) (a) Individual receipt stapled to copy of Assignment of Mortgage that has been signed
and certified a true and exact copy of the original OR
___(b) ___(b) (b) The following statement typed on a copy of the Assignment of Mortgage: “I
hereby certify that this is a true and correct copy of the original which was
submitted for recordation”.
Name of Title Insurance Company Agency or Lender Authorized Officer
CC 8) If applicable, an Assignment of Mortgage from an authorized affiliated entity to the
participating lender submitting loan for purchase, with evidence document was sent for
O or C 9) Name Affidavit, if required.
O 10) Instant Title Policy, Final Title Insurance Policy, or Short Form Residential Title Insurance Policy
with all required original signed endorsements.
CC 11) Executed Deed that was sent for recording.
O or C 12) Survey, if common and typical to area. (This is not a PHFA requirement).
O or C 13) Power-Of Attorney, if applicable.
END OF FOLDER #2
IMPORTANT NOTICE: FINAL DOCUMENTS, ITEMS ONE (1) THRU THREE (3), BELOW MUST BE RECEIVED BY PHFA WITHIN 60
CALENDAR DAYS FROM THE DATE OF PURCHASE. WE ACCEPT THE ORIGINALS OR COPIES OF THE RECORDED DOCUMENTS.
ITEMS FOUR (4) THROUGH SIX (6) SHOULD BE SENT TO PHFA PRIOR TO THE DELIVERY OF ITEMS 1, 2, AND 3.
1. RECORDED FIRST MORTGAGE AND ASSIGNMENT(S) 4. FHA MORTGAGE INSURANCE CERTIFICATE
2. RECORDED SUBORDINATE MORTGAGE(S) 5. VA LOAN GUARANTY CERTIFICATE
3. RECORDED MORTGAGE MODIFICATION AGREEMENT 6. RHS LOAN NOTE GUARANTY
Page 3 of 4
SERVICE RELEASED PACKAGE - [FOLDER #3]
(May also be submitted with a binder clip in lieu of a folder)
(Place Page 4 of Form 58 on top of documents)
LOAN TYPE (PLEASE CIRCLE ONE): CONVENTIONAL FHA RHS VA
Name(s) Social Security
No(s). of Applicant(s) Lender Information ISSUE ______
___________________________ Name of Lender:______________ Date Submitted
_____________________ Tel. # ________________
DIRECTIONS: Place this Page 4 of the Checklist on top of the copies of the following items, in the order listed below. Any
questions regarding the Service Release Checklist please call Naomi Garcia (717) 780-1826 or JoAnn Wade (717)780-3952 in
the Escrow Department of the Accounting & Loan Servicing Division. The fax number for the department is (717) 780-3853.
PHFA: X, LENDE
Lender: LEGIBLE copies of the following IN THE FOLLOWING ORDER:
N/A, OR R: “X”
MISSING OR N/A
1) Reminder: Preliminary Loan Set Up Sheet (Form 26) must be completed on line at
https://ephfa.phfa.org/lenders/bank1.aspx . The loan will be ineligible for purchase if this
information is not completed on line. The loan set up is required within 4 business days
2) If Real Estate tax must be paid, include tax bill and note that bill must be paid immediately.
3) Automatic Withdrawal (ACH form) (Form # 67). (Document must be faxed to the Agency
within 4 business days after closing). Optional.
4) Guaranteed Rural Housing Form 1980-18 Conditional Commitment For Single Family
Housing Loan Guarantee (all 4 pages if applicable).
5) New Loan Tax and Insurance Information Sheet (Form 27). *If equivalent information is
available on your form, attach to Form 27. Add any missing information to Form 27.
6) Settlement sheet/HUD 1 and Addendums.
7) Copy of Hello/Goodbye letter (Form 28) given to mortgagor at closing or within 3 business
days after closing with payment breakdown information completed.
8) W-9 Form or other Social Security number certification for all borrowers.
9) Initial (Aggregate) Escrow Account Statement Disclosure – HUD REQUIREMENT.
10) Copy of Reg. Z Disclosure Truth In Lending including itemization of amount financed.
11) Homeowners Insurance declaration page with receipt of payment for first year's premium
and/or copy of check.
12) Proof of Flood Insurance and/or Mine Subsidence Insurance (application) with payment
receipt for first year's premium and/or copy of check, if applicable.
13) Life of Loan Flood Certification (must list PHFA's name & address).
14) For Condominium units, provide a copy of Certificate of Association’s Insurance for
Hazard, Flood, and/or Mine Subsidence and a unit owner’s HO-6 policy for replacement.
15) Copy of clear PHIF MI Certificate.
16) C opy of l etter t o Insurance Companies advising of change of Servicer – If PHFA i s n ot
listed on the declaration page use Form 42 to make the appropriate changes.
17) Life and Disability Insurance Application (if borrower chooses to accept this insurance).
18) If applicable, non-liable co-occupant name_____________________________________
(This is needed when another person is living in the home but he /she is not on the note.)
Social Security #____________________________________
19) Address of co-borrower not occupying property. (FHA – K-Gov only)
END OF FOLDER #3
Completion escrow agreement, for weather- _______________ _______________________________
P related items, in purchase package Date PHFA Reviewer
H _____Yes _____No
A _____ Review Completed
_____ Incomplete Documentation
Page 4 of 4