Welcome to TSAHC Lender Training
TSAHC is a 501(c)3 nonprofit organization. Our mission is to serve the housing needs of low‐income Texans and other underserved populations.
We fulfill our mission through our concept of:
About Us
• TSAHC’s homeownership programs were created by the Texas Legislature
• Two types of assistance are made available to homebuyers:
1. Low interest loans and down payment assistance (6 Options Available)
• Provide a 30‐year fixed interest rate mortgage loan
• You do not need to be a first‐time homebuyer to qualify
• Available for purchase or refinance mortgage loans
• Interest rates dictated by TSAHC and based on current market conditions and may change daily
• DPA is a gift to the home buyer. Repayment is NEVER required.
2. Mortgage Credit Certificates
• Special annual mortgage interest tax credit
• Can be combined with our DPA options
Homeownership Opportunities
3 Government Loan Interest Rate Options3 Government Loan
Interest Rate Options
3, 4 or 5 points of NET Down Payment Assistance
FHA, VA or USDA loan
DPA is a gift to home buyer; No second lien
3 HFA Preferred Loan Interest Rate Options3 HFA Preferred Loan Interest Rate Options
Conventional loan
3, 4 or 5 points of NET DPA
97% LTV
No upfront MI premium
Lower monthly MI
MI can be canceled
Homeownership Opportunities
• A special Fannie Mae conventional loan only available to housing finance agencies like TSAHC
• It has all the benefits of a traditional conventional loan with some added perks:
• 97% LTV (only 3% down payment required)
• No upfront mortgage insurance premium = Thousands of dollars in savings in out of pocket expenses when compared to FHA loan
• Lower monthly mortgage insurance rates = Lower monthly mortgage payments when compared to a FHA loan
• No Loan Level Pricing Adjustments (LLPAs)
• Mortgage insurance can be cancelled when loan reaches 78% LTV
HFA Preferred Conventional Loan
Savings Compared to FHAFHA Loan Conventional Loan Conventional Loan
with 5% DPA with 5% DPA with 3% DPA95.01% LTV ‐ 97% LTV 95.01% LTV ‐ 97% LTV
Interest Rate 4.875% 5.500% 5.000%
Sales Price $125,000 $125,000 $125,000
Minimum Down Payment $4,375 $3,750 $3,750
TSAHC Gifted Down Payment $6,250 $6,250 $3,750
Base First Mortgage $118,750 $118,750 $121,250
Base LTV 95% 95% 97%
Upfront MI Premium (%) 1.75% 0.00% 0.00%
Ongoing MI Premium (%) 1.35% 0.69% 0.80%
Upfront MI Premium $2,078 $0 $0
Total First Mortgage $120,828 $118,750 $121,250
LTV with Financed MI Premium 97% 95% 97%
First Mortgage P&I $639 $674 $651
Monthly MI $136 $68 $81
Total Payment $775 $743 $732Monthly Savings Compared to FHA $0 $33 $44
TSAHC's HFA Preferred
95.01% LTV ‐ 97% LTV 95.01% LTV ‐ 97% LTV 95% LTVInterest Rate 5.500% 5.000% 4.000%Sales Price $125,000 $125,000 $125,000Minimum Down Payment $3,750 $3,750 $6,250TSAHC Gifted Down Payment $6,250 $3,750 $0Base First Mortgage $118,750 $121,250 $118,750Base LTV 95% 97% 95%Upfront MI Premium (%) 0.00% 0.00% 0.00%Ongoing MI Premium (%) 0.69% 0.80% 0.89%Upfront MI Premium $0 $0 $0Total First Mortgage $118,750 $121,250 $118,750LTV with Financed MI Premium 95% 97% 95%First Mortgage P&I $674 $651 $567Monthly MI $68 $81 $88Total Payment $743 $732 $655
Possible Out of Pocket Expenses:Down Payment (minus TSAHC DPA Grant) $0 $0 $6,250LLPA (1.25% of loan amount) 0 0 $1,484
$0 $0 $7,734
Savings Compared to Traditional Conventional
• Mortgage Credit Certificate
• Gives the homebuyer the ability to take an annual tax credit of up to $2,000 as
long as they occupy the home as their principal residence.
• TSAHC provides an MCC credit rate of 40%. The MCC has the potential of saving
the homebuyer thousands of dollars over the life of the loan.
• This program is only available with first‐lien purchase loans for first‐time home
buyers.
• Unlike our DPA Program, the Lender qualifies the homebuyer and provides the
interest rate.
• Can be combined with our DPA assistance options.
Homeownership Opportunities
MCC Example
• The homeowner is able to take the maximum special tax credit of $2,000. • The homeowner will still be able take a mortgage deduction of $3,400 ($5,400 ‐
$2,000 credit) when they file their taxes that year.
40% MCC Rate
Loan Amount $120,000.00
Interest Rate X 4.5%
Interest 1st Year = $5,400
MCC Rate X 40%
Amount = $2,160
MCC Tax Credit (max) = $2,000
Homeownership Opportunities
How does a individual qualify?
1. Profession or Income Level
• Homes for Texas Heroes:
• Classroom Teacher, Teacher Aide, School Librarian, School Nurse, School Counselor, or Nursing and Allied Health Faculty, Veteran, Firefighter, EMS Personnel, Peace Officer, Corrections Officer (TDCJ or TJJD), County Jailer, or Public Security Officer
• If you do not see the profession listed above, they are not a “Texas Hero”. However, they may still qualify under the Home Sweet Texas Program and receive the same benefits
• Home Sweet Texas Loan: Any individual or family at or below 80% Area Median Family Income (AMFI)
2. Underwriting/Credit Requirements
Borrowers are required to meet standard underwriting requirements. We have the following overlays:• FHA, VA or USDA‐RHS Loans
• A minimum FICO score of 640 with a maximum DTI of 45%, or• A minimum FICO score of 660 with a maximum DTI of 50%.
• FNMA HFA Preferred Conventional Loans• For LTVs of 95.01 to 97%:
• Minimum FICO score of 680 with a maximum DTI of 45%• For LTVs of 95% or Lower:
• Minimum FICO score of 640 with a maximum DTI of 45% • For those with a FICO score of 660 or greater, a maximum DTI of 50% will
be allowed.
How does a individual qualify?
How does a individual qualify?
3. Purchase loan borrowers need to complete a homebuyer education course prior to closing on the home loan
• A homeowner is 33% less likely to fall behind on their mortgage if they’ve taken a homebuyer education course.
• Homebuyer education can help:• Consumers understand, establish or rebuild credit;• Consumers determine readiness, understand mortgage loans, locate
assistance programs and avoid pitfalls; • You spend less time educating potential buyers; and • You work with better prepared clients
• Met by attending a session through TSAHC’s network of housing counseling agencies. Visit www.texasfinancialtoolbox.com to find a course.
• Affordable Homes of South Texas is an excellent home buyer education provider… Let’s learn more!
Income Examples
4. Borrower cannot exceed Income and Purchase Price Limits based on County
• Household size no longer affects the income limits for Texas Heroes utilizing TSAHC's DPA Program. The income limit that previously applied to households of 3 or more persons now applies to households of any size.
• Income limits remain unchanged for Home Sweet Texas Loan borrowers regardless of program, and Texas Heroes utilizing the MCC or Combination DPA/MCC Programs.
Examples:
• DPA Program Only (Loan qualifying income from the 1003)
• MCC or Combination DPA/MCC (Must include ENTIRE household income)
Area Home Sweet Texas Texas Hero
Household Size N/A N/A
McAllen $48,240 $69,345
Area Home Sweet Texas Texas Hero
Household Size N/A 1 to 2 3 or More
McAllen $48,240 $60,300 $69,345
How does a individual qualify?
5. Work with an approved participating lender
6. MCC Requirement ONLY: Must be a first‐time homebuyer
• No ownership interest in any principal residence in the past 3 years, purchasing a home in a Targeted Area, or be a Qualified Veteran
• Homebuyers using the MCC Program could potentially be subject to Recapture Tax if ALL three of the following occur:
1. Sell the home within 9 years,
2. Make a net profit on the sale, and
3. Income increases 5% every year borrower lived in the home
Take the Eligibility Quiz
• Unsure if a client qualifies? Take the Eligibility Quiz under the Homeownership section of our site at www.tsahc.org.
A borrower may purchase any of the following types of homes:• New or existing single family residences• Duplexes or fourplexes (one unit must be owner‐occupied/Government loans only)• Condominiums (FHA‐approved/Government loans only)• Townhomes• Planned Unit Developments• Manufactured home (FHA‐approved/Government loans only)• Not allowed: Rental homes, co‐ops, investment properties, vacation and/or second
homes.
A borrower may use the following loan types:• FHA• USDA/RHS• VA• HFA Preferred Conventional • Traditional Conventional (MCC only)
Property & Loan Types
Program Fees: • $300 Funding Fee• $85 Tax Service Fee• $200 Compliance Review Fee• 1% MCC Issuance Fee (if applicable)
Lender Compensation:• Lenders may collect all reasonable and customary fees and closing costs• All fees and charges must be properly listed on the HUD‐1.• DPA Programs
• Loans originated under TSAHC’s DPA Programs will be purchased by US Bank. • Compensated 2.5% in SRP for each FHA, USDA‐RHS, or FNMA HFA Preferred loan.• Compensated 2.0% in SRP for each VA loan.• Lenders may not charge origination or discount points.
• MCC Program• Loans may be sold to any investor or retained for servicing by the lender.• Lenders are compensated like any other loan.
DPA Program Fees & Compensation
Important Takeaways!
• You do not need to be a first‐time buyer to take advantage of our DPA options.
• DPA is a TRUE GRANT that does not need to be repaid – EVER!
• Our programs can be combined with other down payment assistance and MCC programs.
• TSAHC now offers exclusive HFA Preferred conventional loan options.
• Home buyers are not required to stay in the home for any number of years.
• Borrower can purchase anywhere in Texas.
• We serve more than just Texas Heroes. Remember, anyone at or below 80% AFMI may be eligible.
• For our Texas Heroes, there is no minimum time on the job required prior to or after using the programs.
• Turnaround times are fast! We require loans to close within 45 days of loan reservation.
Reservation & Origination Flow
Borrower takes home
buyer education course.
Borrower works with
Realtor to find home/execute sales contract.
Lender pre‐qualifies
Borrower per Guidelines.
Reservation & Origination Flow
Lender completes loan reservation in the Lender Portal
at www.tsm‐online.org.
HFA Preferred loans with LTVs of 95.01 to 97% must be run through DU and receive an
Approve/Eligible result. The file must then be delivered to US
Bank for underwriting.
All other loans will be underwritten by the lender.
Underwriter uploads the Underwriter Certification Form within 15 days of reservation to
the Lender Portal.
Lender delivers the Pre‐Compliance Package to TSAHC via the Lender Portal at least 10
days prior to closing.
Pre‐Compliance Package is reviewed/approved by TSAHC. A Compliance Commitment
Letter is made available via the Lender Portal.
Lender submits the Funding Request Form and HUD‐1 to
[email protected] at least 2 days prior to closing date.
Lender closes/funds the loan.
Lender submits Post‐Compliance Package to
TSAHC via the Lender Portal within 10 days of closing
date.
Post‐Compliance Package reviewed/approved by
TSAHC. Servicer notified of compliance approval and
loan purchased.
Step by Step ProceduresSteps Homeownership (DPA) Program
Only MCC Program Only Combined Homeownership/MCC TSAHC Required Documents
Step 1. Loan Reservation
Reserve the loan on the Lender Portal at www.tsm‐online.org.
Reserve the loan on the Lender Portal at www.tsm‐online.org.
Reserve the loan on the Lender Portal at www.tsm‐online.org
N/A.
Step 2.ONLY for HFA Preferred conventional loans
Lender runs loan through DU and receives an Approve/Eligible. Loans with LTVs of 95.01 to 97% must be sent to US Bank for underwriting. Loans with LTVs of 95% or less are underwritten by the lender.
N/A. Lender runs loan through DU and receives an Approve/Eligible. Loans with LTVs of 95.01 to 97% must be sent to US Bank for underwriting. Loans with LTVs of 95% or less are underwritten by the lender.
N/A.
Step 3. Upload Underwriter Certification Form
Within 15 calendar days of loan reservation, upload the Underwriter Certification Form to the Lender Portal.
N/A. The MCC Program does not require an Underwriter Certification Form.
Within 15 calendar days of loan reservation, upload the Underwriter Certification Form to the Lender Portal.
1. Underwriter Certification Form
Step 4. Upload Pre‐Closing Compliance Package/Program Affidavit.
At least 10 calendar days prior to loan closing, upload the Program Affidavit and the additional documents listed on the Pre‐Closing Compliance Checklist.
At least 10 calendar days prior to loan closing, upload the Program Affidavit and the additional documents listed on the Pre‐Closing Compliance Checklist.
At least 10 calendar days prior to loan closing, upload the Program Affidavit and the additional documents listed on the Pre‐Closing Compliance Checklist.
1. Compliance Checklist2. Program Affidavit3. Initial Loan Application
(1003)4. Copy of Purchase Contract
(Purchase transactions only)5. Tax Returns (MCC only)6. Rental Verification (MCC
only)
Step 5. Download and Print Commitment Letter.
Once the Pre‐Closing Compliance Package has been approved by TSAHC, a Commitment Letter will be available through the “PDF Forms” tab on the Lender Portal to download and print.
Once the Pre‐Closing Compliance Package has been approved by TSAHC, a Commitment Letter will be available through the “PDF Forms” tab on the Lender Portal to download and print.
Once the Pre‐Closing Compliance Package has been approved by TSAHC, a Commitment Letter will be available through the “PDF Forms” tab on the Lender Portal to download and print.
N/A. The Commitment Letter is available to Lenders after the Pre‐Closing Compliance Package has been preliminarily approved. It is for the Lender’s records only and does not need to be submitted to TSAHC.
Step 6. Request DPA Funds From TSAHC.
Complete and email the Funding Request Form to [email protected] at least two (2) business days prior to closing. TSAHC will table fund DPA proceeds.
N/A. TSAHC does not provide DPA funds through the MCC Program.
Complete and email the Funding Request Form to [email protected] at least two (2) business days prior to closing. TSAHC will table fund DPA proceeds.
1. Funding Request Form2. Approved HUD‐1 Settlement
Statement
Step by Step ProceduresSteps Homeownership (DPA) Program
Only MCC Program Only Combined Homeownership/MCC Required Documents
Step 7. Close/Fund Mortgage Loan
Close and fund loan according to Agency and Program Guidelines.
Close and fund loan according to Agency and Program Guidelines.
Close and fund loan according to Agency and Program Guidelines.
N/A. No documents required to be sent to TSAHC at loan closing.
Step 8. Upload Post‐Closing Compliance Package.
Within 10 calendar daysfollowing loan closing, upload the documents listed on the Post‐Closing Compliance Checklist to TSAHC to the Lender Portal at www.tsm‐online.org
Within 10 calendar daysfollowing loan closing, upload the documents listed on the Post‐Closing Compliance Checklist to TSAHC to the Lender Portal at www.tsm‐online.org
Within 10 calendar daysfollowing loan closing, upload the documents listed on the Post‐Closing Compliance Checklist to TSAHC to the Lender Portal at www.tsm‐online.org
1. Compliance Checklist2. Reaffirmation of Mortgagor3. Final Loan Application (1003)4. Homebuyer Education Cert.5. Final HUD‐1 6. Sellers Affidavit (MCC only)7. ACH Transfer (MCC only)8. Appraisal (Refinance
transactions only)
Step 9. Deliver Loan to U.S. Bank for Purchase.¹
Closed/funded loan must be delivered to U.S. Bank within 45 calendar days of loan reservation. Closing package must be approved by TSAHC and the loan purchased by U.S. Bank within 70 calendar days of loan reservation.¹
N/A. Lender follows their own organization’s secondary marketing policies for distribution of the loan. Loan must be closed, funded and fully approved by TSAHC within 70 days of loan reservation.
Closed/funded loan must be delivered to U.S. Bank within 45 calendar days of loan reservation. Closing package must be approved by TSAHC and the loan purchased by U.S. Bank within 70 calendar days of loan reservation.¹
N/A. Once the Post‐Closing Compliance Package has been approved, the status of the loan in the Lender Portal will be changed to “Approved” and the Servicer will be notified that the loan meets TSAHC’s eligibility requirements.
Step 10. Check Loan Status.
Check the status of your loan periodically through the “Loan Status” tab on the Lender Portal. Once the Pre and Post Compliance Packages have been fully approved by TSAHC, U.S. Bank will be authorized to purchase the loan (subject to compliance with U.S. Bank requirements).
Check the status of your loan periodically through the “Loan Status” tab on the Lender Portal. The Pre and Post‐Closing compliance packages must be fully approved by TSAHC before the Borrower is eligible to receive his/her MCC.
Check the status of your loan periodically through the “Loan Status” tab on the Lender Portal. Once the Pre and Post Compliance Packages have been fully approved by TSAHC, U.S. Bank will be authorized to purchase the loan (subject to compliance with U.S. Bank requirements).
N/A.
Step 11. Loan Purchased/MCC Issued.
Once all TSAHC and U.S. Bank conditions have been met, the loan will be purchased by U.S. Bank.
Once all conditions have been met, the Mortgage Credit Certificate will be mailed to the Borrower.
Once all TSAHC and U.S. Bank conditions have been met, the loan will be purchased by U.S. Bank.
N/A.
Loan Officer Responsibilities
• Pre‐qualify borrower per Program Guidelines
• Must have an execute sales contract
• Household size no longer affects the income limits for Texas Heroes utilizing only TSAHC's DPA Program.
• The income limit (115% of the Area Median Family Income) that previously applied to households of 3 or more persons applies to households of any size.
• Income limits remain unchanged for Home Sweet Texas Loan borrowers regardless of program, and Texas Heroes utilizing the MCC or Combination DPA/MCC Programs.
• Complete the Loan Reservation
• Reserve the loan on the Lender Portal at http://www.tsm‐online.org
Underwriter Responsibilities
• Lenders are responsible for underwriting all FHA, VA and USDA loans. Loans may be underwritten through:
• Automated Underwriting System (AUS), • Fannie Mae’s Desktop Underwriter (DU),• Freddie Mac’s Loan Prospector (LP), or • Manually underwritten according to the criteria established for the applicable loan
product.
• HFA Preferred loans with LTVs of 95.01 to 97% must be run through DU and receive an “Approve/Eligible”. Lenders, without approval by US Bank, are then required to submit those to US Bank for further underwriting.
• Please visit www.mrbp.usbank.com to access the US Bank Underwriting Guidelines.
• Only HFA Preferred mortgage loans with LTVs of 95% or less may be underwritten by the lender following Fannie Mae underwriting guidelines.
Underwriter Responsibilities• Additional credit and debt overlays:
• FHA, VA or USDA‐RHS Loans• A minimum FICO score of 640 with a maximum DTI of 45%, or• A minimum FICO score of 660 with a maximum DTI of 50%.
• FNMA HFA Preferred Conventional Loans• For LTVS of 95.01 to 97%:
• Minimum FICO score of 680 with a maximum DTI of 45%• For LTVs of 95% or Lower:
• Minimum FICO score of 640 with a maximum DTI of 45% • For those with a FICO score of 660 or greater, a maximum DTI of 50% will be
allowed.
• Within 15 calendar days of loan reservation the “Underwriter Certification Form” must be uploaded to the Lender Portal.
• This form can be found through the “PDF Docs” button associated with your loan on the Lender Portal.
• The MCC program does not require an Underwriter Certification Form.
Processor Responsibilities
• Upload Pre‐Closing Compliance Package
• Within 10 calendar days prior to closing this package will need to be uploaded to the Lender Portal.
• This package can be found through the “PDF Docs” button associated with your loan on the Lender Portal.
• Commitment Letter Issued by TSAHC
• This letter is to verify that the loan meets eligibility criteria.
• This letter can be found through the “PDF Docs” button associated with your loan on the Lender Portal.
Closer Responsibilities• DPA or DPA/MCC Loans: Request DPA Funds from TSAHC
• Complete the “Funding Request Form” and email it and the final HUD‐1 to [email protected] at least 2 business days prior to closing.
• Close and Fund Loan
• Close and fund the loan according to Agency and Program Guidelines
• Upload Post‐Closing Compliance Package
• Within 10 calendar days following loan closing this package must be uploaded to the Lender Portal.
• This package can be found through the “PDF Docs” button associated with your loan on the Lender Portal.
Shipper Responsibilities
• DPA or DPA/MCC Loans: Deliver the necessary documents to U.S. Bank per the “Closing and Funding” guidelines found in the Lender Manuals at www.mrbp.usbank.com.
• Must be approved by TSAHC, then delivered and purchased by U.S. Bank within 70 calendar days of loan reservation
• All Loans: Check the status of your loan periodically through the “Loan Status” tab on the Lender Portal
• DPA or DPA/MCC Loans: Once the Post‐ Closing Compliance Package has been approved by TSAHC, U.S. Bank will be authorized to purchase the loan (subject to U.S. Bank requirements)
• MCC Loans: Once the Post‐ Closing Compliance Package has been approved by TSAHC, the Mortgage Credit Certificate will be issued to the borrower.
Accessing the Lender Portal
• Participating lenders will reserve loans and submit compliance packages through TSAHC’s Lender Portal at www.tsm‐online.org.
• One person from each Lender’s organization will be designated the “Administrator” of the TSAHC Lender Portal for purposes of granting access to company personnel.
• It will then be the Administrator’s responsibility to determine who within their company will have access and determine the level of access each employee will have.
TSAHC Lender Portal at www.tsm-online.org
1. Login to the TSAHC Lender Portal at www.tsm‐online.org.
2. Click on Program Documents
Home Page
• Download and print the “Step‐by‐Step Origination Procedures” document to help you determine our timeline and the required documents for each program.
Important Documents
1. Select the “New Reservation” tab in the upper left corner.
2. Select the appropriate Program from the list and complete the reservation form.
New Reservation
3. Fill out all appropriate fields using the completed 1003.
4. Required fields are designated with a red asterisk.
New Reservation
New Reservation5. Once the loan is reserved, you will have the option to view or print your reservation
confirmation.
• The Lender Portal allows lenders to complete and submit electronic documents.• All documents must be uploaded electronically.• No paper documents are required.
• Click on the “PDF Docs” button to access the electronic documents.
TSAHC Compliance Packages
TSAHC Compliance Packages• Select/generate the desired document and ensure all required fields are completed.
• If the applicable form requires no signature, it will have an “Upload Package” button at the bottom. This will automatically upload the forms to the eDocs module of the Lender Portal.
• If the applicable form requires a signature, the form must be completed, printed, scanned and saved as a PDF. To upload, click on the “eDocs” function associated with your loan.
1. Go back to the “Loan Status” button. NEVER use the back arrows or it will log you out of the system.
2. Simply click the “eDocs” button and follow the instructions to upload the required documents.
3. Click the “Add New” button to upload a form.
Uploading Program Documents
4. Click the “Click Here” button to access your computer files and select the document you wish to upload.
Uploading Program Documents
5. The next step is to name the document you are uploading. • Choose an option from the drop‐down list under “Select a document from the
predefined list”. • The drop‐down will list all of the required documents for the applicable package. • If you don’t see your document on the list, use the “Enter a customized document
name” field to name the document you are uploading.
6. Then you MUST click SAVE!
Uploading Program Documents
7. Once all of the required documents have been uploaded to the Lender Portal, click on the “Submit” button associated with the each section and • TSAHC will be notified that your package has been delivered.
8. If you do not hit the “Submit” button, we will NOT know that you have uploaded any documents!
Uploading Program Documents
• You can always check the stage of your loan by clicking on the “Loan Status” tab.
• For definitions of each stage, click on the “Program Documents” tab and download the “Loan Stages in Lender Portal” document.
Loan Stages
Loan StagesStage Name Full Stage Name
Potential Loan/MCC Status(es)
DescriptionRequired Action/Next Step
Reserved Reserved N/A*
Loan/MCC has been reserved on our system. No other
activity on loan.
Upload Underwriter’s Certification within 15
calendar days.
UW Cert. Recd. Underwriter Certification Received N/A*
The Underwriter’s Certification has been uploaded to the
Lender Portal.
Upload Pre‐Closing Compliance Package Prior to loan closing. Delivery 10
calendar days prior to closing is recommended.
Comp. Pkg. RecdPre‐Closing Compliance
Package ReceivedN/A*
The documents representing the Pre‐Closing Compliance Package have been uploaded
to the Lender Portal.
Check Lender Portal within 48 hours to obtain status of the
compliance package.
Comp. Pkg. Rev.Pre‐Closing Compliance Package Reviewed
IncompleteMissing/incomplete documentation.
Click on the “view” icon associated with your loan to
view conditions. Clear conditions.
Approved
Pre‐Closing Package has been approved and will be moved
to “Committed” status.
Refer to “Committed” stage for next step.
Committed Committed N/A*
Loan is pre‐approved for compliance with TSAHC’s
eligibility criteria.
Close/fund mortgage loan. A commitment letter (pre‐
approval) can be printed from the “PDF Docs” icon associated with your loan on the Lender
Portal.
Loan StagesStage Name Full Stage Name Potential Loan/MCC
Status(es)Description Required Action/Next Step
Close Pkg. Recd
Post‐Closing Compliance Package Received
N/A*
The documents representingthe Post‐Closing Compliance Package have been uploaded
to the Lender Portal.
Check Lender Portal within 48 hours to obtain status of the post‐closing compliance
package.
Close Pkg. Rev.
Post‐Closing Compliance Package Reviewed
Incomplete
Missing/incomplete documentation.
Click on the “view” iconassociated with your loan in the Lender Portal to view
conditions. Clear conditions.
Approved
Pre‐Closing Package has beenapproved. Loan/MCC is fully approved at this stage and eligible for purchase by U.S Bank (subject to U.S. Bank purchase provisions).
If not already submitted,
deliver loan to U.S. Bank for purchase (not applicable to
MCCs).
MS Purchased
Master Servicer Purchased
N/A*
Loan has been purchased byU.S. Bank. (Not applicable to
MCCs).
None
TSAHC Purchased
TSAHC Purchased
N/A*
Loan has been securitizedand sold to TSAHC (not applicable to MCCs).
None
MCC Issued
MCC Issued
N/A*
MCC application has beenfully approved and Certificate
has been mailed to the borrower along with
Recapture Tax form and any other required documentation.
None
• Borrowers have access to YOU!
• Links to the guidelines, forms and training information.
• Access to the TSAHC Lender Portal (www.tsm‐online.org).
• Free marketing materials
• Speaking engagement requests
• A link to find home buyer education providers in your area via www.texasfinancialtoolbox.com.
Visit www.tsahc.org to find:
Homeownership Hotline: (877) 508-4611
Paige Omohundro(512) 477‐3561
Sarah Ellinor(512) 220‐1171
Tim Almquist(512) 334‐2156
Delia Davila(512) 334‐2158
Have a Question?