When can I start using the TPO Connect System?

On September 1st, all lenders are required to use TPO connect on new reservations. Since the systems do not talk to each other, you will still be able to access all your old files and open reservations in MITAS. However, any incomplete reservations will be cancelled and will have to be locked in the new system.

I'm having technical difficulties with the site, who do I contact?

Email Mortgage@ihda.org for all support.

Which internet browser should I use with TPO Connect?

For best performance use Google Chrome.

Are there changes to IHDA documents with TPO Connect?

The documents we have now and the process with those documents will not change with Encompass and TPO Connect. The documents will still be uploaded (now to TPO Connect) post close as the Investor and IHDA Delivery files.

When should documents be uploaded to TPO Connect?

Lenders may upload them anytime prior to submitting the loan to IHDA. All documents must be accounted for when the loan is submitted. Submitting loans to IHDA with "trailing docs" will result in conditions and may delay the loan being purchased.

For post-purchased files, are conditions listed in TPO Connect?

No, after the file is purchased, all outstanding conditions will be emailed to the lender.

How are pre-purchase file conditions handled?

All pre-purchase conditions will be viewable on the file level in TPO Connect. Lenders will upload the requested supporting documentation into the system.

Can I still reserve loans in MITAS?

No, after August 29 all lenders must exclusively reserve using TPO Connect.

Will I be able to access loans I reserved in MITAS in TPO Connect?

No, the systems do not talk to each other. You will still be able to access all your old files and open reservations in MITAS.

What is the lock period when locking a loan in TPO Connect?

IHDA's lock policy remains unchanged. For reference it is,

When the commitment/reservation is made, the interest rate is locked for 60 days regardless of future rate changes. IHDA/U.S. Bank HFA Division must purchase loans by the 60th day. If a loan has not been purchased by the 60th day, a 25 bps reduction in Service Release Premium (SRP) will be made for every 30 days past the initial 60-day lock period. If a loan has not been purchased by the 90th day, IHDA is under no obligation to purchase the loan(s).

On any loan in which the lender expects to deliver at 90 days or after, the lender must contact IHDA (mortgage@ihda.org) informing that it is still an active file and requesting postponement of the cancelation. IHDA must make an approval/acknowledgment and the MITAS system noted accordingly by IHDA staff.

After cancellation, IHDA will not allow a re-registration by the same borrower(s) for 60 days unless the borrower has obtained a contract on a different property. It is suggested that a lender reserve/commit the loan when the appraisal has been received and the loan file is fully complete. Once a loan is reserved/committed, the lender will perform a review of the loan file for tax code compliance and for credit underwriting - each of which is a separate and unique review.

At what point is a loan considered "registered"? Is it at application or when it is locked?

IHDA loans can be inputted into TPO Connect without locking the rate and can live within your pipeline unlocked. Once you go through product and pricing, and then lock the loan, the 60 days will start and IHDA will consider it an active loan.