How to avail of the Program1 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 |
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