As announced here, we made some changes for Section 184/184A loans. We are adding some additional documents for Section 184/184A loans. According to the Section 184A processing guidelines, a lender must submit documentation that the property has completed construction for newly constructed properties prior to closing, which, according to the processing guidelines, includes new construction associated with refinances. The guidelines require the use of a Warranty of Completion of Construction form. According to the Section 184A website, construction, and refinance checklists, HUD Form 50110-A (Warranty of Completion of Construction) is to be used to comply with the guidelines. We have created Cx28157 as a specific Section 184A document to replace the generic HUD Form 92544 (Cx47) for Section 184A loans. This new document will print in Hawaii Initial and Closing packages when “Section 184/184A Indicator” (FI 32411) is set to Yes, “New Construction?” (FI 1179) is Yes, and “Loan Purpose” (FI 5991) is Construction To Permanent, Cash Out Other, No Cash Out Other, or Purchase.
We have also created Cx28166 (Section 184A – Loan Guarantee Firm Commitment Form), which is a copy of HUD Form 50143-A. This loan commitment form is an underwriting document which we have set to ‘Upon Request’. The generic print configuration will be for Hawaii Underwriting packages when Section 184/184A Indicator (FI 32411) is set to Yes.
This change is available for testing on Stage & Stage 2 servers and will take effect on February 20, 2025. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.
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