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MCC and RMCC FORMS, APPLICATIONS, INFORMATION, and LENDER LISTS

Published on: 7/11/2014 1:42 PM
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MCC INFORMATION

July 11, 2014
 
The County's MCC Allocation is Depleted.
  • MCC Applications are NOT being accepted, except for a Waiting List.
  • The Waiting List is available in the chance an MCC Commitment/Reservation is canceled (The home purhase falls through)
  • There is no guarantee that anyone on the Waiting List will recieve an MCC.
  • The County will apply for new MCC's for the September 2014, California Debt Limit Allocation Committee (CDLAC) Meeting.
  • The Waiting List is NOT for the September CDLAC Allocation Meeting.


  • PublishTab 3 of 5.

PARTICIPATING LENDERS BROKERS LIST (MCC & RMCC)


Lender/Broker PARTICIPATION AGREEMENTS  (Complete and Mail to County)

 

MCC PROGRAM FORMS

Phase I. MCC Reservation (Submit to County BEFORE the Close of Escrow)

  1. $500 Application Fee, made payable to the County of Santa Clara
  2. Executed Purchase Contract 
  3. Copy of 1003 Loan Application
  4. MCC-013 Checklist/Transmittal Form
  5. MCC-003 MCC Application Affidavit
  6. MCC-007 MCC Commitment/Reservation Form
  7. MCC-015 Potential Recapture Tax Notice
  8. MCC-016 Method to Compute Recapture Tax
  9. MCC-004 No-Income Affidavit (Use only if the co-borrower or household member over age 18 has no income).
  10. Income Tax Affidavit (MCC-006)   (Use only if tax returns were not filed with the IRS

(If the MCC application is complete and the applicant qualifies, the County will issue an MCC Commitment/Reservation and email it to the Loan Officer who submitted the MCC application.)

Next--

Submit the following documents to the County after the Loan Officer has received the MCC Commitment/Reservation and the loan/ escrow has closed:

Phase II. Post Closing (Submit to County after the Close of Escrow)


  1. MCC-009 Lender's Closing Certificate
  2. MCC-008 Borrower's Closing Affidavit
  3. MCC-005 Seller's Closing Affidavit July
  4. Copy Final HUD-1 Settlement Statement
  5. Copy Promissory Notes

Once the County has received the above documents, the County will issue the Final MCC Certificate and mail it directly to the homebuyer and a copy to the Funding Lender.


     
RMCC PROGRAM FORMS (Submit to the County after the Close of Escrow)
(An RMCC is NOT dependant upon MCC funding.  The MCC is being Reissued so current MCC funds are not a factor.)

  1. RMCC-013 Checklist / Transmittal Form

  2. RMCC-003 Application
  3. RMCC-002 Frequently Asked Questions
  4. RMCC-019 Ownership Change Addendum
  5. RMCC-009 Lender's Closing Certificate
  6. RMCC Exhibit A
    1. RMCC Amort Table for Exhibit A
  7. RMCC -015 Notice of Potential Recapture Tax
  8. HUD-1 Final Settlement Statement
  9. Copy of new Promissory Note
  10. Copy of 1003 Loan Application
  11. Copy of Preliminary Title Report
  12. Copy of new Deed of Trust
  13. Copy of last MCC or RMCC issued
  14. $350 Application Fee, made payable to the County of Santa Clara

 


DOWNPAYMENT ASSISTANCE (SCC40K) FORMS