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Bulletins and Notices
Notice No. 0012 | November 9, 2010

WISH and IDEA Programs: New Disbursement Request Deadlines

Dear Community Lending Partner:

To encourage our members to submit disbursement requests on a timely basis, as of January 1, 2011, the Bank will be implementing new request and documentation deadlines. If the member does not comply with these deadlines, the Bank reserves the right to decline the disbursement request.

  • Disbursement requests must be received by the Bank within four months of the date that the homebuyer closes on the purchase transaction.
  • Any outstanding documentation for the submitted disbursement request must be received by the Bank within four months from the date that the Bank receives the disbursement request.

Please note that for homebuyers with loan closing dates prior to September 1, 2010, disbursement requests must be received by the Bank on or before January 1, 2011, and any outstanding documentation for these requests must be received by the Bank by May 1, 2011.

If you have questions about these changes, please contact the Community Investment Department or call (415) 616-2542.

Sincerely,

 

Marietta Núñez
Vice President, Community Lending
Community Investment Department