AGENCY: Utah Housing Corporation

SERIES: 6674
TITLE: Cancelled/expired loan application packages
DATES: 1987-2002.
ARRANGEMENT: Alphabetical by applicant surname

DESCRIPTION: These are cancelled or expired applications to the Utah Housing Finance Agency (UHFA) submitted by lending agencies on behalf of families interested in reserving UHFA monies for a housing loan. For any number of reasons, a family or lending agency may not complete the loan approval process. These records have been used to answer questions pertaining to cancelled applications during infrequent inquiries regarding the agency's compliance with nondiscrimination laws. Each package usually includes a Commitment Reservation Request, a Mortgage Purchase Agreement, a photocopy of the commitment fee check, and a Loan Application Certificate. These forms contain the applicant's name, home address, and social security number; the loan amount requested; and signatures and dates.

RETENTION

DISPOSITION

RETENTION AND DISPOSITION AUTHORIZATION

These records are in Archives' permanent custody.

APPROVED: 06/1991

FORMAT MANAGEMENT

Paper: Retain in Office until the end of the year and then transfer to State Records Center. Retain in State Records Center for 25 months and then destroy.

APPRAISAL

Administrative

This disposition is based upon the administrative need expressed by the agency to maintain these records for a period equal to that required of lenders participating in HUD mortgage assistance programs. According to 24 CFR 107.30 (1989), lenders are required to retain applications "for assistance with regard to residential property and related facilities" for 25 months. This series does include signed lease agreements as part of initial requests for loan reservations, but because the loan has not been approved the seven year statute of limitations on real property contracts does not apply.

PRIMARY DESIGNATION

Private

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