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Why does CDA require borrowers to provide affidavits and tax returns?

April 26, 2017affidavits borrowers CDA require tax returns

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Why does CDA require borrowers to provide affidavits and tax returns?

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CDA receives authority through the IRS to issue tax-exempt mortgage revenue bonds to fund mortgages under the CDA Maryland Mortgage Program. It is a requirement of the federal government that this documentation be used in order to establish the borrower’s eligibility under the IRS rules.