payoffs, transfers, and other loan servicing information

Mortgagee Transfers

Include Hazard Insurance Policies and Flood Certificates in the Purchase documents delivered to CHFA. The Mortgagee Clauses on transfer letters from the CHFA-approved Lender should be listed as follows:

Private Mortgage Insurance
Colorado Housing and Finance Authority
Its Successors and/or Assigns
1 Corporate Drive, Suite 360
Lake Zurich, IL 60047-8945

Hazard Insurance, Flood Insurance, H06 Insurance (required on all condominiums)
Colorado Housing and Finance Authority 
Its Successors and/or Assigns 
P.O. Box 961292
Fort Worth, TX 76161-0292  

Flood Determination Certificate 
Colorado Housing and Finance Authority 
Attention: Escrow Department 
1 Corporate Drive, Suite #360 
Lake Zurich, IL 60047-8945
 

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​​Flood Certificate Providers​ American Flood Research CBSInnovis CoreLogic Data Verify Flood Services FDSI (Flood Data Services) Factual Data Flood Federal Flood ​​ First American Flood Data Services Informative Research Lereta, LLC

​   LPS National Flood  LSI Flood Services  LandAmerica (Lereta Corp) LandSafe Flood ServiceLink National Flood  SnapHD Stewart Mortgage Information  Wells Fargo Insurance Company, Inc. Xactus

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FHA/MIP Notification

CHFA is the Holder of all purchased loans. However, as soon as CHFA purchases the loan, Dovenmuehle Mortgage, Inc. shall be identified in FHA Connection as the Current Servicer.

Upon CHFA's purchase of the loan, FHA Connection should be completed as follows:
     Holder Name: Colorado Housing and Finance Authority, #05366 
​     Current Servicer: Dovenmuehle Mortgage, Inc. #11303

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MERS

The CHFA First Mortgage Loan should be closed using a MERS-as-Original-Mortgage (MOM) Deed of Trust. CHFA-approved Lenders must follow MERS Membership Processing Guidelines.

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Notice of Servicing Transfer

CHFA will prepare and mail the Notice of Servicing Transfer for both the Participating Lender and CHFA, reflecting the transfer of servicing to DMI. It is important that the CFHA-approved Lender allow CHFA to send the combination notice to our customers so that we may ensure that customers are provided with the correct contact and payment information for DMI. CHFA will send our CHFA-approved Lenders copies of the Notice of Servicing Transfer.

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Notification of Assignment, Sale, or Transfer of Your Mortgage Loan

CHFA will send the Notification of Assignment, Sale or Transfer of Your Mortgage Loan, indicating that the ownership of the mortgage loan has been transferred from the CHFA-approved Lender to CHFA.

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First Payment Letters

First payment letters given to the Borrower directing the Borrower at closing should not direct the Borrower to send payments to CHFA. As soon as CHFA purchases a loan, the Borrower will receive the appropriate Payment Letters.

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Payoff Requests

Due to volume, payoff requests are processed within ten business days from receipt of the request. Requests from someone other than the borrower require written authorization from the borrower to release the loan information. You may use CHFA’s Third-party Authorization form or your own. If not using our form, a request for a payoff must be made in writing. Please include the following information:

• Authorization from the borrower to release loan information
• Payoff effective date
• Borrower​’s loan number
• Fax number as to where you want the payoff quote to be sent. (Payoff Statements may not be sent to email addresses.)

You may fax the payoff request to 847.574.7512 or email it to CHFAP​[email protected]. This email address is for payoff requests ONLY.