Ineligible Appraiser List Relocated to ChaseLoanManager
Are you accessing the Ineligible Appraiser List through ChaseLoanManager? The Lenders Processing Services (Hansen) website will be decommissioned August 30, 2010. Also, there is a clarification to Ineligible Status. Any Appraiser on the Chase Ineligible Appraiser List is considered ineligible in all states, regardless of License State displayed.
The License State column in the spreadsheet is available as a search option to narrow results only. It is suggested that Correspondents search for ineligible Appraisers by Name and/or License Number to ensure a complete and accurate search.
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Correspondents with Non-Agency Delivery Authority may now lock Non-Agency loans via ChaseLoanManager.
For more information, refer to Chase Correspondent Bulletin CB10-100, located in the Online Guides.
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DU Refi PlusTM and LP Open Access Programs Extended
Both Fannie Mae and Freddie Mac announced the extension of the DU Refi PlusTM and LP Open Access Programs based on the Federal Housing Finance Agency's extension of the Home Affordable Refinance Program (HARP). Based on these announcements, Chase Correspondents can continue to lock and deliver loans which meet our guidelines through June 30, 2011. We will distribute reminders as the new effective date approaches.
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Counties Removed from Non-Agency Distressed Markets
Your Chase Non-Agency business opportunities are now expanding. Effective on or after July 19, 2010, Chase has revised the Non-Agency Distressed Markets for Best Effort loans. Revisions to the markets include:
- 149 counties removed from Distressed Market Status in Colorado, Connecticut, Delaware, Idaho, Massachusetts, Maryland, North Carolina, New Jersey, New York and Virginia
- Increased the maximum Distressed Market LTV/CLTV in 43 counties in Arizona, California, Idaho, Illinois, Massachusetts, New Jersey, Ohio and South Carolina
For more information, refer to Chase Correspondent Bulletin CB10-93 
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Great News! Homebuyer Tax Credit Extended to September 30, 2010
The Homebuyer Tax Credit, which expired at the end of April, was recently extended from June 30 to September 30, 2010.
This extension applies only to borrowers who have a signed contract prior April 30, 2010. While this is positive news, correspondents must review their pipeline to ensure eligible loans are closed prior to the September 30 deadline.
Please see the IRS guidelines.
If you have any questions regarding the extension of the Homebuyer Tax Credit, please contact your Account Executive.
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Important Announcement: National Flood Insurance Program Reauthorization until September 30, 2010
On July 2, the Federal Emergency Management Agency (FEMA) announced that Congress passed and the President signed H.R. 5569, which extends the National Flood Insurance Program (NFIP) through September 30, 2010 and is retroactive to cover the lapse period from June 1, 2010.
See more information about the NFIP Reauthorization here.
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