Change in Process for OBR Last Deed of Record Searches
To: Participating Contractors
Regarding Programs: Residential Financing Program
Summary: Change in process for OBR last deed of record searches
Contact: residential.financing@nyserda.ny.gov
NYSERDA is changing the process when we request deeds due to the high number of On-Bill Recovery (OBR) loan applications for which a proforma is never submitted or the project does not pass the OBR cost effectiveness criteria. Effective immediately, EFS Slipstream will request deeds from the title company after the proforma has been approved rather than at the time of application. After the deed is received (about 5 days) the file will move forward to the QA stage and loan documents will be issued.