AGENCY: Utah Housing Corporation
SERIES: 84345
TITLE: Housing loan files
DATES: 1977-
ARRANGEMENT: Numerical by loan number
DESCRIPTION: These files are a verification of loan information which is used principally to substantiate loan payoff, back-up foreclosure action, or qualify legal action against a lender or appraiser. These files include mortgage submission vouchers [loan numbers (Utah Housing Finance Agency, Federal Housing Administration, Veterans Administration, lender); bond series; dates of application, receipt, and closing; loan, property, and tax information; borrower information including name, social security number, marital status, employer, position, gross income, and other income sources; mortgage lender; signature of lending authority; and date signed]; Housing and Urban Development disclosure/settlement statements (lending agency; type of loan; loan, file, and mortgage insurance numbers; names of borrower, seller, and lender; property location; loan commitment and settlement dates; summaries of borrower's and seller's transactions; settlement charges; signatures of buyers, sellers, and lender); trust deeds (title number; date; and signature of authorizing agent); assignments of trust deeds (county recordation number; date of record; signature of county recorder; lender name and signature; notary public signature; seal; date; and copy certification signature); title insurance policies (insurance company name; policy and file numbers; amount of insurance; amount of premium; date of policy; name of insured; tenants name; type of estate; property location description; mortgage assignment; and authorizing signatures); certificates of hazard insurance (mortgagor name; property address; insurance policy; effective date; amount of coverage; policy expiration date; type of coverage; and lender's signature). A summary of this data is entered into the agency's data base.
RETENTION
Retain for 34 year(s)
DISPOSITION
Destroy.
RETENTION AND DISPOSITION AUTHORIZATION
These records are in Archives' permanent custody.
APPROVED: 07/1989
FORMAT MANAGEMENT
Paper: For records beginning in 1977 and continuing to the present. Retain in Office for 1 month and then transfer to State Records Center. Retain in State Records Center for 34 years and then destroy.
Computer data files: Retain in Office for 34 years and then delete.
APPRAISAL
Administrative Fiscal Legal
This retention is based primarily upon the agency's foreseeable administrative needs which may extend three years beyond the loan close-out dates. The majority of loans represent thirty-year mortgages.
PRIMARY DESIGNATION
Private