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Timeline for Lenders – Minneapolis HOM Homeownership

We look forward to working with you to help your customer access these down payment funds.Minneapolis HOM funds are subject to the same TRID and other lending regulations as a first mortgage. We

will be following this timeline and request your cooperation in helping to move the process forward for your

borrowers.

30 days – to complete the Minneapolis HOM loan process

27 days – NWHP reviews file and sends disclosure packet

23 days – NWHP issues Conditional Commitment

14 days – receipt of Conditional Commitment items

6 business days – from issuance of Final Commitment letter to closing

3 business days (M-F) – from receipt of Clear to Close to closing

30 Days to Closing Lender sends complete package based on the Submission Package checklist

27 days from closing Our team reviews the documents and if complete sends an initial disclosure packet that

must be completed and signed by the borrower and returned to NWHP.

23 Days from Closing

Five business days after the file is reviewed by the Lending Coordinator, NWHP will issue a Minneapolis HOM

Conditional Commitment Letter to the lender and borrower. The Conditional Commitment Letter may include

the following items:

• Ensure missing documents are provided.

• Other specific conditions for individual transactions.

The lender is provided the Conditional Commitment and 1003, and they must be returned completed and

signed to NWHP.

14 Days to Closing

If applicable, First Mortgage lender provides the Conditional Commitment items to NWHP. This must be

complete and meet guidelines to close. The package must be sent to downpayment@nwhomepartners.org at

least 14 business days prior to closing. NWHP office hours are 8:30 – 5:00 PM Monday-Thursday, and 8:30 AM

– 3:00 PM on Fridays.

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6 Days to Closing

• NWHP will issue Final Commitment Letter and preliminary Closing Disclosure to lender and borrowers

(within 5 days of receipt of ALL “Prior to Approval” Conditional Commitment items).

• The borrower must review, sign documents, and return to NWHP.

• The first mortgage lender uses our closing disclosure to balance the funds for closing, and sends it to

the title company so they can review it.

3 Days to Closing

When the loan is Clear-to-Close, first mortgage lender provides email notice to

downpayment@nwhomepartners.org. This must include the following information:

1. Final closing date

2. Closer contact

3. Title company contact

4. Closing Disclosure with any additional subordinate mortgages itemized include source and net

amount of funds

5. Note

6. Mortgage (including legal description)

NWHP then provides the following to both the first mortgage lender and the title company:

o Final Closing Disclosure

o Mortgage

o Note

o Closing Instructions

Minneapolis HOM funds are wired to the title company.

We appreciate your cooperation and welcome your questions.

Thank you,

NeighborWorks Home Partners

downpayment@nwhomepartners.org

651-292-8710

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Homeownership Opportunity Minneapolis

Submission Package

Borrower’s Name: Co-Borrower’s Name:

Closing Date: Date of 1st Lender Document Submission:

Please collect the following documents from your borrower(s) and their household members and send

via secure email to downpayment@nwhomepartners.org:

□ copy of Financial Wellness Certificate through a designated HOM service provider that pre-dates the purchase

agreement. (must be less than one year old)

https://nwhomepartners.org/minneapolis-hom-approved-counseling-agencies-and-education-providers/

□ all pages of fully executed purchase agreement signed by both the borrower(s) and the seller(s)

□ pre-approval letter from 1st Mortgage Lender – including name, email, and phone number for loan

officer, property address, verification credit has been reviewed, and estimated loan amount.

For each household member:

□ copy of government issued photo ID

□ 2 months bank statements for all liquid accounts (most recent statement should be no more than 30

days old)

□ copies of federal tax returns for the most recent two years

□ copies of all W-2s and 1099s received for the most recent two years

□ for all jobs worked: 30 days most recent and consecutive paystubs with year-to-date information for all

borrower(s) current jobs (most recent paystub should be no more than 30 days old)

□ for income such as social security, retirement, pension etc: copy of most recent award letter stating

amount received and frequency

□ for child support/alimony: copy of divorce/court decree stating amount and frequency of payments

□ for self employed borrower(s): year-to-date Profit & Loss statement (should reflect income from date of

last filed tax return to within thirty days of application and must be signed and dated by the borrower)

□ If receiving unemployment income on a consistent or annual basis: send proof of unemployment

income received

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Signed by all Borrowers Loan Disclosures

□ Homeownership Opportunity Minneapolis Down Payment Assistance Intake

Form

□ Authorization to Release Information

□ Borrower’s Certification and Authorization

□ Consent to Share Information

□ Household Composition Declaration

□ Consent to Use of Tax Return Information

Please contact our lending team with any questions – 651-348-5085, downpayment@nwhomepartners.org

CITY OF MINNEAPOLIS HOM DOWN PAYMENT ASSISTANCE INTAKE FORM

BORROWER INFORMATION:

Borrower Full Name:

Preferred Name/Nickname: Pronouns:

Address: City: State: Zip:

Phone Number: Home: ( ) Cell: ( )

Work: ( ) Best time to reach you/preferred form of contact:

Email Address:

Co-Borrower Full Name:

Preferred Name/Nickname: Pronouns:

Address: City: State: Zip:

Phone Number: Home: ( ) Cell: ( )

Work: ( ) Best time to reach you/preferred form of contact:

Email Address:

What is the total number of people who will be living in your household, including all borrowers?

PROPERTY INFORMATION:

Address:

City: State: MN Zip:

Building Type: ☐ Single Family ☐ Duplex ☐ Condominium ☐ Twin Home

Loan Officer Name:

Loan Officer Phone:

Pre-Approval Amount:

Company:

Phone:

Purchase Price: $

LOAN INFORMATION:

Lending Company:

Loan Officer Email:

Loan Type:

REALTOR INFORMATION:

Name:

Email:

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HOW DID YOU HEAR ABOUT US? (We want to know who to thank for sending you)

□ Previous Client/Word of Mouth (who?) ____________________________________________________

□ Newspaper (please specify) _____________________________________________________________

□ Other organization (which one?) _________________________________________________________

□ Flyer (where did you see it) ______________________________________________________________

□ Web search/internet (source?) ___________________________________________________________

Neighborworks Home Partners does not discriminate on the basis of race, color, creed, national origin, sex,

religion, marital status, status with regard to public assistance, disability, familial status, or sexual or affectional

origination in the provision of services.

I/We certify that the statements contained in this Intake Form are true, accurate, and complete to the best of

my/our knowledge and belief.

Borrower Signature: Co-Borrower Signature:

Printed Name: Printed Name:

Date: Date:

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Authorization for Release of Personal Information and Release of Customer Information/Permission to Discuss

Applicant Name (s):

Address:

Phone (s):

Email(s):

I am applying for a mortgage/program with:

Company Name:

Representative Name:

Phone: Email:

I hereby authorize the company and representative named above, as well as their agents or assigns, to supply and

receive information to/from Community Neighborhood Housing Services dba NeighborWorks Home Partners

(NWHP) and their staff, including information about my income, assets, credit and property information. This

information includes, but is not limited to, bank statements, employment, income, outstanding debts and other

financial information. I also authorize reproduction of any financial records or information in their possession.

I understand that information in this application may be shared with any of NWHP’s funding sources for the

purpose of meeting funding compliance.

It is understood that a photocopy of this form will also serve as authorization.

Signature(s):

Signature: Date:

Print Name:

Signature: Date:

Print Name:

Community Neighborhood Housing Services, dba NeighborWorks Home Partners NMLSR# 363923

Megan Adrestia, Lending Advisor NMLS #1684168

533 Dale St. N, St. Paul, MN 55103

Main: 651-292-8710

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Borrower’s Certification & Authorization

Certification

The undersigned certify the following:

1. I/We have applied for a loan from Community Neighborhood Housing Services, dba NeighborWorks

Home Partners (NWHP).

2. In applying for the loan, I/we completed a loan application containing various information including the

purposes of the loan, the amount and source of the down payment, employment and income

information, and assets and liabilities. I/We certify that all of the information is true and complete. I/We

made no misrepresentations in the loan application with the employer and/or other documents, nor did

I/we omit any pertinent information.

3. I/We understand and agree that NWHP and/or NeighborWorks America (NWA) reserves the right to

change the loan review process to a full documentation program. This may include verifying the

information provided on the application with the employer and/or the financial institution.

4. I/We fully understand that it is a Federal crime punishable by fine or imprisonment, or both, to

knowingly make any false statements when applying for this loan, as applicable under the provisions of

Title 18, United States Code, Section 1014.

Authorization to Release Information

To Whom It May Concern:

1. I/We have applied for a loan from NWHP. As part of the application process, NWHP and/or NWA may

verify information contained in my/our loan application and in other documents required in connection

with the loan, either before the loan is closed or as part of its quality control program.

2. I/We understand and agree that NWHP and/or NWA reserves the right to change the loan review

process to a full documentation program. This may include verifying the information provided on the

application with the employer and/or the financial institution.

3. NWHP and/or NWA or any investor that purchases the loan may address this authorization to any party

names in the loan application.

4. A copy of this authorization may be accepted as an original.

5. Your prompt reply to NWHP and/or NWA, loan servicer, or mortgagee of the loan is appreciated.

Signature: Signature:

Name (print): Date: Name (print): Date:

Last 4 digits of social security number: Last 4 digits of social security number:

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Consent to Share Information

I/We authorize representatives from NeighborWorks Home Partners to supply and receive

information to/from NeighborWorks Home Partners and NeighborWorks® America. I/We

understand that information in this request may be shared with any of our funding sources for

the purpose of meeting funding compliance.

I/We understand that the completion of this request for funding does not guarantee my/our

eligibility for the program.

I/We release all representatives of NeighborWorks Home Partners, and NeighborWorks®

America from any and all liability arising from release of such information. This authorization is

limited solely to information requested for the processing of my/our request to participate.

Confidentiality: In order to process this request, NeighborWorks Home Partners may supply

and receive information as detailed above. Information may also be released to comply with the

auditing requirements of program funding sources. All personal and identifying information

related to this request other than the outlined information above remains fully confidential.

Release: I/We hereby give NeighborWorks Home Partners (including, but not limited to

NeighborWorks® America) permission to use photographs of myself/ourselves and/or my/our

house in any medium (electronic or otherwise) to tell my/our story and/or advocate on my/our

behalf to potential donors to support my/our needs and the needs of the community.

Borrower Signature Date

Co-Borrower Signature Date

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Household Composition Declaration

Please list all persons who are planning to live at the subject

property, INCLUDING the information of all applicants

Full Name Relationship To Borrower Date of Birth

Working (Yes/No)

Legally Married (Yes/No) Military Status

Sample: Jane Doe Self 01/01/2020 Yes Yes Veteran

I/We acknowledge that I/we have requested down payment assistance funds through NeighborWorks

Home Partners (NWHP). I/We further understand that approval is subject to the truthfulness and accuracy

of the documentation and information provided. I/We certify that all supporting documentation and

information submitted in connection with my/our application for Minneapolis HOM from NWHP is true

and correct as of this date. I/We also understand that any intentional or negligent misrepresentation

contained in my/our application may result in civil liability and/or criminal penalties for any loss that may

be incurred by NWHP due to its reliance upon such documentation or information that I/we have

provided.

Borrower’s Signature Date

Co-Borrower’s Signature Date

BORROWER CONSENT TO THE USE OF TAX RETURN INFORMATION

Borrower(s):

Date:

Property Address:

Lender:

I understand, acknowledge, and agree that the Lender and Other Loan Participants can obtain,

use and share tax return information for purposes of (i) providing an offer; (ii) originating,

maintaining, managing, monitoring, servicing, selling, insuring, and securitizing a loan; (iii)

marketing; or (iv) as otherwise permitted by applicable laws, including state and federal privacy

and data security laws.

The Lender includes the Lender’s affiliates, agents, service providers and any of aforementioned

parties’ successors and assigns. The Other Loan Participants includes any actual or potential

owners of a loan resulting from your loan application, or acquirers of any beneficial or other

interest in the loan, any mortgage insurer, guarantor, any servicers or service providers for these

parties and any of aforementioned parties’ successors and assigns.

ACKNOWLEDGEMENT

By signing below, you hereby acknowledge reading and understanding all of the

information disclosed above, and receiving a copy of this disclosure on the date indicated

below.

Borrower name Signature Date

Co-borrower name Signature Date

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A Household Member (Who is Not on the Application)

Certification

The undersigned certify the following:

1. I/We have applied for a loan from Community Neighborhood Housing Services, dba NeighborWorks

Home Partners (NWHP).

2. In applying for the loan, I/we completed a loan application containing various information including the

purposes of the loan, the amount and source of the down payment, employment and income

information, and assets and liabilities. I/We certify that all of the information is true and complete. I/We

made no misrepresentations in the loan application with the employer and/or other documents, nor did

I/we omit any pertinent information.

3. I/We understand and agree that NWHP and/or NeighborWorks America (NWA) reserves the right to

change the loan review process to a full documentation program. This may include verifying the

information provided on the application with the employer and/or the financial institution.

4. I/We fully understand that it is a Federal crime punishable by fine or imprisonment, or both, to

knowingly make any false statements when applying for this loan, as applicable under the provisions of

Title 18, United States Code, Section 1014.

Authorization to Release Information

To Whom It May Concern:

1. I/We have applied for a loan from NWHP. As part of the application process, NWHP and/or NWA may

verify information contained in my/our loan application and in other documents required in connection

with the loan, either before the loan is closed or as part of its quality control program.

2. I/We understand and agree that NWHP and/or NWA reserves the right to change the loan review

process to a full documentation program. This may include verifying the information provided on the

application with the employer and/or the financial institution.

3. NWHP and/or NWA or any investor that purchases the loan may address this authorization to any party

names in the loan application.

4. A copy of this authorization may be accepted as an original.

5. Your prompt reply to NWHP and/or NWA, loan servicer, or mortgagee of the loan is appreciated.

Signature: Signature:

Name (print): Date: Name (print): Date:

Last 4 digits of social security number: Last 4 digits of social security number: