chfa risk information score card (chfa risc)

Presented by: Karen Harkin303.297.7327

purpose of chfa risc

Allow CHFA to continue to serve applicants from580 through 619 and loans that have to bemanually underwritten

Allow CHFA to serve applicants from 620 through 659 with DTI’s in excess of 43.0%

Help applicants, who do not meet CHFA requirements at this time, understand the issuesthey need to address to improve their readiness to purchase a home

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use chfa risc for any loan where you have

An applicant who has a credit score of 580 through 619

To manually underwrite the loan

An applicant who has a credit score of 620 through 659 with a DTI in excess of 43.0%

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stops - applicants who Have credit scores from 580 through 619

and a DTI in excess of 43.0%

Have a manual underwritten loan DTI in excess of 43.0%

Have credit scores from 620 through 659, a DTI in excess of 43.0% and can’t pass RISC

Late payments on Mortgage or Rentin last 12 months

Non-medical collections within most recent 12 months(unless totaling less than $100)

Non-medical collections in excess of $2,000 totalin 13-24 months – even if paid