HomeMy Public PortalAboutAB 15-69 A Discussion concerning the request for an opinion from the City AttorneyMcCALL CITY COUNCIL 216 East Park Street
AGENDA BILL McCall, Idaho 83638
Number AB 15-69
Meeting Date April 23, 2015
AGENDA ITEM INFORMATION
SUBJECT:
A Discussion concerning the request for an opinion from the City Attorney regarding a loan on a McCall Avenue Home
Department Approvals
Initials
Originator
or
Supporter
Mayor / Council
City Manager
Clerk
Originator
Treasurer
Community Development
Police Department
Public Works
Golf Course
COST IMPACT:
unknown
Parks and Recreation
FUNDING SOURCE:
Airport
Library
TIMELINE:
ASAP
Information Systems
Grant Coordinator
SUMMARY STATEMENT:
The owner of 1547 McCall Ave is trying to refinance his home. The loan officer of Health Care Idaho Credit Union, per their underwriter, has asked the City attorney to provide an opinion
letter that states “All warranties listed as Fannie Mae Requirements on page 122 of 137 of Flagstar’s Underwriting Guidelines have been met by the leasehold on the property located
at 1547 McCall Ave, McCall, ID 83638”. After three attempts to provide the lender with an opinion letter, the City Attorney cannot provide the language in the letter that the lender
requires as they are asking for a guarantee on a document that has not been filled in nor recorded. The City Attorney has requested that this item be added to the meeting so he can
explain his position on the request.
The letter the attorney has prepared for the lender is attached.
RECOMMENDED ACTION:
Provide direction as necessary
RECORD OF COUNCIL ACTION
MEETING DATE
ACTION