How to avail of the Program
1 Originating institution submits letter starting intent to sell their housing loan receivables to NHMFC.
2 Originating institution advise buyers that balance of their housing loan will be sold/transferred to NHMFC
3 NHMFC Conducts due diligence on:
4 Originating institution and borrower receives notice approval.
5 NHMFC releases take-out proceeds to the originating institution.
6 Borrower issues 25 post-dated checks to cover monthly amortization payments and one guaranty check to cover balance