• Section 184 Loan Guarantee Program Fee Increase. Effective December 1, 2016, the annual loan guarantee fee will increase from .0015 to .0025 percent for Section 184 case numbers issued on or after December 1, 2016.
• A case number is valid for up to 60 days from issuance. After 60 days, numbers will be cancelled by HUD without further notice and a lender must send a new request for a case number. The following must accompany the case request form: (a) Tribal enrollment identification card with a copy of the front and back of the card; (b) Executed sales contract for purchase transactions, including a completed MCAW.
• Revised Section 184 MCAW. Form 50132, the tab, Amortization and fee schedule, has been changed to reflect the annual fee of .0025.
• Collections. All collections must show evidence of payment in full prior to the date of closing. In addition, the applicant must furnish a written letter of explanation and must have otherwise good credit.
You can view the updated information and MCAW on the HUD website here: Section 184 Indian Home Loan Guarantee Program
Please direct any questions to your Regional Sales Manager