IDEA Subsidy Assumption

Members must notify the Bank in the event that the IDEA-assisted homebuyer refinances and subordinates the IDEA to a new first mortgage note.
 
The subsidy assumption must be based on the Bank's methodology using the following workbook:

• Notice of Refinance with Subordination (.xls)

A printed copy of the applicable worksheet must be provided at the time of notification to the Bank of subsidy assumption.


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