October 2012 PHFA FORM 58
Homeownership Programs Division
PURCHASE SUBMISSION CHECKLIST
PRIMARY BORROWER’S FULL NAME
Last First Middle
PHFA LOAN # (SEE PHFA APPROVAL) LENDER LOAN #
CLOSING / CONVERSION/ FUNDING FIRST PAYMENT DUE DATE
DATE The 1st day of the 2nd month following the “Closing,
Later of: date loan closed OR conversion date conversion or funding dates” *OR for loans closing/funding
by the 5th calendar day of the month, payments could also
(construction completion date).
begin on the 1st of the month following closing.
ORIGINAL LOAN AMOUNT
Loan Type (circle one):
(Mortgage amount as it appears on the Mortgage Note)
CONVENTIONAL FHA VA RD
LENDER NAME: __________________________________________________
Please Indicate: Delegated Loan __Yes __No
(Prior approval is required before delegated authorization is granted)
SHIPPER NAME SHIPPER’S PHONE # OR EMAIL
The Purchase Submission Package is due prior to the reservation expiration date. It
must be purchased within 7 days of the 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
October 2012 PHFA FORM 58
PURCHASE SUBMISSION FOLDER - [FOLDER #1]
(Place Page 2 of Form 58 on top of documents)
IMPORTANT INFO: If any of the following items are incomplete, incorrect or missing from Folder 1-DO NOT send the file
to the Agency. If an incomplete file is submitted the file will be ineligible for purchase & late fees may accrue.
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 Loan with or w/o Assistance)
G = Keystone Government/HFA Preferred Risk Sharing Purchase/HFA Preferred R=HFA Preferred Risk Sharing Refinance
‘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/R O 1) Purchase Submission Checklist. (Form 58, pg. 2):
____Page 1 is to be stapled to the front of the Purchase Submission Folder
____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/R C 2) Credit Pre-Compliance Approval Notification – Place the documents that are
needed to clear the conditions behind the approval notification. If items to clear
the conditions are missing, the file may be ineligible for purchase
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, 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, if required which is determined by the type of loan –
Include if not attached to the PHFA approval – Item #2 above.
D/H/G/R O or C 6) Final signed and dated Loan Application (1003) & all applicable pages of the
HUD Addendum 92900-A, if applicable.
D/H/G/R O or C 7) Any & all revised GFEs along with change of circumstance documentation & the
final signed Truth-In-Lending statements (TILs). Requirements apply to 1st mtg
& Advantage loan.
D O, C 8) Mortgagor’s Affidavit of Eligibility (Form 3 Pages 1 – 3 & 6 – 7), completed,
or P signed, & dated as of 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 9) Mortgagor’s Affidavit Reaffirmation page signed and dated as of loan closing or
at loan conversion on construction/perm loans. (Form 3 page 4).
D O or C 10) Affidavit of Seller (Form 3, page 5), completed, signed and dated.
D/H O or C 11) 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/R C 12) Provide a copy of all applicable Closing Instructions letters that were used in this
D/H/G/R C 13) VA Loan Quality Certification, if applicable, signed by the lender.
D/H/G/R C 14) VA Report & Certification of Loan Disbursement. (Form 26-1820)
D O, C, or 15) Delegated Loans Only: Underwriting/Compliance Package including Form 51
P (Submission Checklist) with Documents. (Only required if lender has delegated
authority & compliance package was not previously submitted.)
PHFA SUBORDINATE DOCUMENTS: (Submit documents in a separate file
D/H/G/R O 16) PHFA Second Lien Subordinate Mortgage Note (Forms 54 ADV (Advantage) or
54A ( HOMEstead) loans . The Advantage loan must be in second lien position.
D/H/G/R O or C 17) HUD 1 for Advantage Loan (GFE & TIL as referenced in #7)
D/H/G/R O or C 18) PHFA Second Lien Subordinate Mortgage (Form 55ADV (Advantage)or 55A
(HOMEstead) with evidence document was sent for recording.
D/H O 19) PHFA Third Lien Subordinate Mortgage Note (Form 54A).
D/H O or C 20) PHFA Third Lien Subordinate Mortgage with evidence document was sent for
recording (Form 55A). Please note the Advantage Mortgage cannot be in 3rd lien
END OF FOLDER #1
Page 2 of 4
October 2012 PHFA FORM 58
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, &
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 RD 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 signed evidence document was sent for
recordation (See item 7 a & b below for the acceptable forms of evidence of recording). If
mortgage references additional attachments, all items must be included.
___(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 from recorder of deeds for the document that was submitted for recording
___(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
CC 9) Subordination Agreement – certified true copy of the doc, sent for recording (FHA streamline only)
O or C 10) Name Affidavit, if required.
O 11) Instant Title Policy with all required addendums & endorsements, the Short form variation is
encouraged. The Title Policy must contain an authorized agent’s countersignature. If the original form is
not available refer to Chapter 12 of the Seller’s guide for acceptable alternatives.
CC 12) Executed Deed that was sent for recording. Not required if HFA Preferred Refinance or HFA
Preferred Risk Sharing Refinance
CC 13) Subordinate Mortgage if an approved county program was used in this loan transaction in
conjunction to PHFA’s Advantage Loan.
O or C 14) Survey, if common and typical to area. (This is not a PHFA requirement).
O or C 15) Power-Of Attorney, if applicable.
END OF FOLDER #2
IMPORTANT NOTICE: THE FINAL DOCUMENTS, APPROPRIATE GOVERNMENT INSURING CERTIFICATE & ALL MISCELLANEIOUS
ITEMS THAT WERE REQUIRED BY PHFA TO MAKE CHANGES OR CORRECTIONS MUST BE SUBMITTED TO RECEIVE THE FULL SRP.
PLEASE CLICK ON THE LINK FOR SPR SCHEDULE http://www.phfa.org/forms/sellersguide/sellersguide.pdf. WE ACCEPT ORIGINALS OR
COPIES OF THE RECORDED DOCUMENTS.
1. RECORDED FIRST MORTGAGE AND ASSIGNMENT(S) 5. FHA MORTGAGE INSURANCE CERTIFICATE
2. RECORDED PHFA SUBORDINATE MORTGAGE(S) 6. VA LOAN GUARANTY CERTIFICATE
3. RECORDED MORTGAGE MODIFICATION AGREEMENT
4. RECORDED SUBORDINATE MTG. OTHER THAN PHFA’S SUB. MTG. 7. RD LOAN NOTE GUARANTY
Page 3 of 4
October 2012 PHFA FORM 58
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 RD VA
Borrower’s Name: Date Completed
PHFA Loan # (on PHFA Approval ) Contact:_____________________
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://lenders.phfa.org . For the loan to be eligible for purchase this information must be
completed on line which is due within 7 calendar days after closing.
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) Tax Certification verifying payment of School, County and City/Twp or Boro taxes.
Form 27 may be used if fully completed with all taxing authorities, tax amounts and
discount dates listed and signed by the lender.
6) Settlement sheet/HUD 1 and Addendums for 1st and 2nd mortgage , if applicable .
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. If there is also a PHFA
Advantage loan a 2nd Hello/Good Bye is needed.
8) W-9 Form or other Social Security number certification for all borrowers.
9) Initial (Aggregate) Escrow Account Statement Disclosure.
10) Homeowners Insurance declaration page with receipt of payment for first year's premium
and/or copy of check.
11) 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.
12) Copy of Right of Rescission addressed to each owner for all Refinance Loans.
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 MI Certificate, copy of check to MI company, if applicable & notice of
transfer of ownership and servicing to PHFA.
16) Copy of letter to Insurance Companies advising of change of Servicer – If PHFA is not
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