Moving Single-Family Financing Initiatives Forward I m HOME Conference October 2-4, 2017
|
|
- Dortha Boone
- 5 years ago
- Views:
Transcription
1
2 Moving Single-Family Financing Initiatives Forward I m HOME Conference October 2-4, 2017
3 Where Fahe Works Fahe and our Members create transformational change in: KY, TN, VA, WV, AL, MD Fahe is on a mission to eliminate persistent poverty in Appalachia. We provide our Network of 50+ local leaders with the resources of finance, collaboration, innovation, advocacy, and communication to help craft long-lasting solutions for the needs of our region. Fahe coordinates a network of 502 Direct packaging partners in: AL, DE, FL, GA, IN, KY, MD, MI, MS, NY, NC, OH, PA, SC, TN, VA, WV, VT Fahe declared a Champion of Rural Housing by USDA streamlines the delivery of 502 Direct affordable home loans and uplifts our nation's rural area alongside 40+ packaging partners in18 states. Fahe is licensed to originate and service loansin: KY, TN, VA, WV, IN, AL, FL, MI, MS, and soon ME Fahe delivers housing capital and supports long-term success for homeowners through quality customer care and personalized account management. (1/1/17)
4 Barriers to Homeowenrship Housing Stock Appraisal gap Lenders Homebuyer ready borrowers
5 How Fahe Works Fahe is on a mission to eliminate persistent poverty in Appalachia. We do this by providing our Network of 50+ local leaders with the resources of finance, collaboration, innovation, advocacy, and communication which allows them to bring leadership, housing, education, health and social services, and economic opportunity to Appalachia. By working hand-in-hand with our Membership we help the people of Appalachia craft long-lasting solutions for the needs in ourregion. Finance Collaboration Innovation Advocacy Communication Local Leaders Leadership Housing Education Health and Social Services Economic Opportunity
6 Products Loan Program Credit Score Income Limits Ratios LTV Property Eligibility Lender Requirements USDA Guaranteed 620+ for all borrowers True no score w/ 3 alternative credit trade lines Family Size 1-4 $78, $103,200 29/41 100% gov/eligibility/welcomeaction.do GUS accept or refer with conditions accpetable of credit waiver FHA 620+ for all borrowers None 31/ % All areas eligible DU Accept VA 640+ for all borrowers True no score w/ 3 alternative credit trade lines None 41 back 100% All areas eligible VA Eligibility DD214 Conventional 680+ None 36/45 80% None DU Accept Conventional No MI 680+ $97,650 28/45 97% KY Properties DU Accept Home Possible % AMI per census tract (unless property is located in a underserved area then there are no income limits) epossible/eligibility.html 29/41 97% (down payment assistance avaliable) None AUS Accept USDA Direct 640+ for all borrowers True no score w/ 3 alternative credit trade lines 80% AMI for household size 29/41 100% gov/eligibility/welcomeaction.do N/A Project Reinvest Qualify for First Mortgage through Fahe 100% AMI 105% None Qualify for First Mortgage through Fahe
7 Delivery System Fahe As Direct Lender Local Partner as Standard Broker Local Partner as Basic Broker Local Partner as Homebuyer Counselor Homebuyer Ed If needed If needed If needed Yes Certification via Member/Partner NMLS Licensed Yes Yes Yes No Person Take An Application Yes Yes Yes No Rate Lock Yes Yes-Broker chooses rate and days locked Yes-No choice in rate, only days locked Initial docs Yes Yes No No originated in Process the Yes Yes No No application Underwrite Yes No No No Close in the name Yes No No No Industry Practice Yes Yes Yes Yes-Fahe differs here in that we recognize NWA Certificates where industry only recognizes HUD No Earn 3.5-4% 1.5%-2.5% chosen by Broker 1% $375.00
8 MH Financing Appraisal - HUD Tag initiates: MH Addendum Date Set Look for MH as comps Deducted value of $5,000 - $10,000 As built and final increase costs Need for Finance to set the unit Additional inspections increase closing costs Foundation and Completion Not all investors will purchase loans Barriers
9 MH Financing Opportunities Appraisals Fannie/Freddie could decide as part of duty to serve to accept traditional appraisal s where MH set on permanent foundation. Need for Finance to set the unit Construction lender opportunity or can we develop a product that will fund upfront? Inspections Fahe s Deferred DPA/Closing Costs of $10,500 can help cover these costs and reach LMI Borrowers Not all investors will purchase loans NFCDCU product low MI/accept DPA USDA Guarantee and 502 Direct
10 361loans of $43,179, grants of $342,247 Direct Homebuyer Lending Impact 94% First time homebuyers 48% Female headed households 20% Minority households 868 people Average AMI of 59%
11 Impact Invested $291M in Appalachia in FY2017. Manages more than $1.15 Billion in assets Served nearly 80,000 people last year Touched 25,000 homes.
12 Sara Morgan Chief Operating Officer Fahe 319 Oak Street Berea, KY Thank you
13 I M HOME CONFERENCE Ignatius MacLellan New Hampshire Housing Finance Authority October 3,
14 Why Manufactured Housing Matters Aligns with the New Hampshire Housing s mission for working with low moderate income families Together with Fannie Mae and lenders: goal bring AFFORDABLE, conventional financing to borrowers who need it the most Extreme need for affordable housing Lack of stick-built inventory Photo courtesy of the New Hampshire Community Loan Fund
15 New Hampshire: Key Ingredients The Home: Manufactured homes qualify as real estate Even when located on another s land The Star Partner: New Hampshire Community Loan Fund Helps residents buy their MH parks and convert to ROCs Have portfolio loan program for the MH too Able to push out downpayment assistance Able to get ROCS approved The Rocs 123 ROCs in New Hampshire
16 New Hampshire Advantage: ROC Structure The Home: MH owned as real estate in fee simple The ROC and the site: Homeowners also has: Share in ROC Occupancy right and agreement
17 Challenge for Manufactured Housing FINANCING!
18 Home Preferred What is the Answer?
19 MH ROCs Loan Characteristics: Fannie Mae conventional mortgage Up to 95% LTV with low mortgage insurance coverage Purchase or limited cash out refinance Homebuyer Education required for first-time homebuyer, at least one borrower This program also includes all the features of Home Ready
20 MH ROCs Property Requirements: MH built per the HUD MH standards (effective June 1976) HUD data plate 12 feet wide, minimum 600 square feet Wheels, hitch, axels removed Attached to permanent foundation system per manufacturer s requirements
21 ROC Requirements Must be approved ROC by Fannie Mae
22 Title, Hazard & Closing Title insurance requirements; same as stick-built homes Hazard insurance requirements; same as stick-built homes Closing additional documentation Mortgage rider (Borrower) Affidavit of intent to be real estate (Borrower) Recognition agreement (Borrower, lender and ROC)
23 MH Finance Challenge: Small Loan Size: Lender Compensation, Sales Commission and Investor Return Lender/Realtor Loan Size Lender Comp (2.05% plus $900 fees) LO Comp (1%) $180,000 $3,690 + $900=$4,590 $1,800 $11,000 $ 50,000 $1,025 + $900=$1,925 $ 500 $ 3,200 Same thing on Investor side Sales Commission (6%, assumed 95% LTV) Loan Size Upfront (90 bps) Annual Servicing (25 bps) $180,000 $1,620 $450 $ 50,000 $450 $125
24 State funds New Hampshire Housing MH ROCs Enhancements downpayment and closing costs Homebuyer Tax Credit aka mortgage credit certificate
25 MCC Explanation Would you like to save up to $2,000 a year off your taxes as long as you are living in your home and paying mortgage interest? Eligibility Be a first-time homebuyer (have not owned a home in three years) or are purchasing a home in a targeted area. Be qualified for a new mortgage. MCCs cannot be used with existing loans. Intend to occupy the home as your principal residence. Be purchasing a house that is a single family residence and that meets certain purchase price limits. Meet certain income limits. Must have a tax liability to use the credit.
26 MCC Example Example: $50,000 mortgage at 4.75% interest rate Interest paid $2,375 ($50,000 mortgage x 4.75% interest rate) MCC Credit Rate 50% MCC Credit $1,200 ($2,375 x 50 % MCC rate) In this example, may boost your take home pay by $100 per month; money that you can use to pay your mortgage! More info: Note: The MCC is more valuable for higher dollar mortgages! $180,000 loan at 4.75% would get the full $2,000 for many years.
27 Photos courtesy of the New Hampshire Community Loan Fund
28 Moving Single-Family Finance Initiatives Forward
29 Fifth Third Mortgage Fifth Third is a long time manufactured home lender: Manufactured homes that have been converted to real property Utilizing secondary market products with almost no lender overlays Other GSE VA 0.22% 9.25% 49.75% Loan-to-Value by Product GSE 95% VA 100% based on entitlement FHA 96.5% purchase 97.75% refinance FHA 40.78% Refinance 43.57% Purchases 56.43%
30 Fifth Third Mortgage Manufactured home lending can be CRA rich 24% CRA Not CRA 76% Fifth Third offers three assistance programs that are available for manufactured homes Down payment assistance grant of 3%, up to $3,600, for low income borrowers or borrowers purchasing a home in a low income tract FHA Closing Cost Assistance grant of 3%, up to $3,600, for low income borrowers or borrowers purchasing a home in a low income tract CRA Fee Waiver program that waives all Fifth Third lender fees when the property is located in a low income tract
31 Fifth Third Mortgage Challenges Managing the lien position on all collateral manufactured unit and land An up-to-date industry resource identifying state and local conversion requirements Conversion to real property varies by state and local government requirements making it difficult for regional and national lenders to perfect lien positions. Is the title retired or retained? Real property records maintained separately from personal property record. Education to title and settlement agencies Title companies are not always proficient in understanding the requirements. Some regional and national title agencies are not accepting our title and settlement orders. Changing perceptions through performance Risk based pricing based on lower loan amounts, lower FICOs, higher LTVs, and higher delinquencies
32 Fifth Third Mortgage Opportunities for Fifth Third in the manufactured home lending industry: Continue to originate manufactured home loans through the retail channel with few overlays for delivery into the secondary mortgage market Facilitate the introduction of newly built inventory to buyers by working with Freddie Mac, manufacturers, retailers, private mortgage insurers, and industry advocates to implement a one time close construction to permanent financing process Aggregate manufactured home loans for delivery into the secondary market through select correspondent relationships
Bridging the Wealth Divide: Expanding Homeownership in Communities of Color and Rural America. Sara Morgan Fahe / #OFNCONF #CDFIsINVEST
Bridging the Wealth Divide: Expanding Homeownership in Communities of Color and Rural America Sara Morgan Fahe / 09-28-2017 Bridging the Wealth Divide: Expanding Homeownership in Communities of Color and
More informationChapter 9 Product Matrix
Table of Contents Chapter 9 Product Matrix... 1 CONVENTIONAL CONFORMING LOANS... 2 Secondary Market ARM (Adjustable Rate Mortgage) Loans... 4 HARP (Fannie DU Refi Plus and Freddie Open Access)... 5 FHA/VA
More informationNiche Loan Programs. Featured Loan. Zero Down Loan
Niche Loan Programs To cater the different needs of out clients Shining Star Funding offers diverse Niche Loan Programs. Contact our mortgage specialist to review which product best suits your financial
More informationWHOLESALE BORROWER PAID COMPENSATION RATE SHEET. Liberty Savings Bank Contact Information
Rate Sheet Date: Rate Sheet Price Code: 3/8/2019 3453 *Effective at 11:00 am EST WHOLESALE BORROWER PAID COMPENSATION RATE SHEET FOR LENDER PAID, BROKER MUST DEDUCT COMPENSATION Liberty Savings Bank Contact
More informationFirst Time Homebuyers
First Time Homebuyers Presented By: Rich Goodwin, Vice President of Mortgage Lending Copyright 2000-2014 Guaranteed Rate. All rights reserved. Our Competitive Advantage Fast and transparent mortgage process
More informationThe Way to Greater Efficiency. Correspondent Lending
The Way to Greater Efficiency Correspondent Lending High-level service and partnership that uniquely leverages technology, processes and people to ensure effi cient and timely loan purchases Meeting the
More informationReal Estate Professional Training The Key to Serving First-time Homebuyers. Why Should VHDA Train Real Estate Professionals?
Real Estate Professional Training The Key to Serving First-time Homebuyers January, 2018 Linda Wine 0 Why Should VHDA Train Real Estate Professionals? You are often the first contact for a first-time homebuyer
More informationWHOLESALE BORROWER PAID COMPENSATION RATE SHEET. Liberty Savings Bank Contact Information
Rate Sheet Date: Rate Sheet Price Code: *Effective at 11:00 am EST 09/14/2018 3319 WHOLESALE BORROWER PAID COMPENSATION RATE SHEET FOR LENDER PAID, BROKER MUST DEDUCT COMPENSATION Liberty Savings Bank
More informationPartner Overview. Springboard CDFI background and Nationwide Mortgage Collaborative
Partner Overview Springboard CDFI background and Nationwide Mortgage Collaborative Springboard CDFI Bridging the wealth gap in America by providing scaled solutions and access to capital; with a focus
More informationFlorida Housing Finance Corporation s First Mortgage Program Options At-A-Glance (Includes Bond and TBA First Mortgage Programs)
Loan Type Features Eligible for FL Housing s Mortgage Credit Certificate (MCC) Program? Eligible for these FL Housing Second Mortgage / Grant Programs Loan Delivery Purchase Timeline Florida Housing Finance
More informationRefinance Report August 2012
This report contains data on refinance program activity of Fannie Mae and Freddie Mac (the Enterprises) through. Report Highlights Refinance volume continued to be strong in August as 30-year mortgage
More informationExpanding Homeownership Responsibly National Federation of Community Development Credit Unions. Sandra Heidinger September 2017
Expanding Homeownership Responsibly National Federation of Community Development Credit Unions Sandra Heidinger September 2017 A Better Freddie Mac and a better housing finance system For families...innovating
More informationFlorida Housing Finance Corporation s First Mortgage Program Options At-A-Glance (Includes Bond and TBA First Mortgage Programs)
Loan Type Features Eligible for FL Housing s Mortgage Credit Certificate (MCC) Program? Eligible for these FL Housing Second Mortgage / Grant Programs Loan Delivery Purchase Timeline Florida Housing Finance
More informationWCDA LOAN PRODUCT MATRIX
The matrix below compares the components of the various first mortgage loan and down payment assistance loan products offered by WCDA. This matrix is designed to provide guidance for these products and
More informationWritten for state Housing Finance Agencies (HFAs), this report furthers the work of the Innovations in Manufactured Homes (I M HOME) initiative s
Written for state Housing Finance Agencies (HFAs), this report furthers the work of the Innovations in Manufactured Homes (I M HOME) initiative s explorations into manufactured home mortgage data. This
More informationDefine USDA products and features Introduce Planet Home Lending s USDA product offerings Learn how to determine property and borrower eligibility
Define USDA products and features Introduce Planet Home Lending s USDA product offerings Learn how to determine property and borrower eligibility Review credit, income, asset and appraisal guidelines Tips
More informationAssistance Program: City of Los Angeles Low Income Purchase Assistance Program (LIPA) Zero Interest Code: DCALIPADP
HOMEOWNERSHIP ASSISTANCE PROGRAM SUMMARY Product Description Allowable Origination Channel Program Name Second mortgage loan program to be used in conjunction with: FHA Fixed Rate Fannie Mae Fixed 30-year
More informationCash Assistance Mortgage Training
HOMEOWNERSHIP Cash Assistance Mortgage Training January 2019 NHHFA.org Today s Agenda What s New with the Cash Assistance Mortgage The Value of Cash Assistance About the Cash Assistance Mortgage Participating
More information19 FREQUENTLY ASKED QUESTIONS
19 FREQUENTLY ASKED QUESTIONS TERMS & CONDITIONS Q. What is the Total Debt To Income ratio allowed under the Program? A. The Total Debt To Income ratio cannot exceed 50.00%, unless other restrictions apply.
More informationFHLMC Only Conforming and Maximum DTI is the more restrictive of Loan Product Advisor or 50%.
AUS (Automated Underwriting System) GENERAL POLICY OVERLAYS FHA, VA, CONVENTIONAL and USDA FHA, VA & Conventional AUS approval recommendation is required for all FHA, VA, (Purchase and Non-Streamline/Non-IRRRL
More informationAssistance Program: City of North Lauderdale Purchase Assistance Program Code: DFLLAUDER
HOMEOWNERSHIP ASSISTANCE PROGRAM SUMMARY Product Description Allowable Origination Channel Program Name Program Approval Expiration Housing Authority Second mortgage loan program to be used in conjunction
More informationMortgage Services III, L.L.C.
(Bank & Credit Union Partners Only) Market conditions are generally: (compared to previous price sheet) Slightly Worse! December 8, 2017 Rate Sheet Updated as of: CONFORMING -- FIXED RATE PROGRAMS #300000-30
More informationFNMA s HomeReady Program
FNMA s HomeReady Program (rev. 6/30/2016) Presented by J.J. Sawicki, CMP Merrimack Mortgage Co. LLC Overview Help meet the diverse needs of today s buyers with FNMA s enhanced affordable lending program,
More informationPurchase: Conventional, FHA, USDA, VA. Refinance: Conventional, FHA, USDA, VA. Emerging Banker
http://www.uhwholesale.com File Type Purchase: Conventional, FHA, USDA, VA Refinance: Conventional, FHA, USDA, VA Closing Doc Turn Times Initial CD will be issued when all Prior to Approval conditions
More informationConventional 97% LTV Options updated 12/5/2018 Freddie Mac HomeOne Mortgage 97% LTV
Max Mortgage Credit Score Max 620, but due to MI requirements borrowers under 680 may benefit from FHA Financing due to MI amounts price comparison is strongly suggested 97% 1 unit 95% for 2 4 unit owner
More information2 TERMS AND CONDITIONS
2 TERMS AND CONDITIONS All Home Advantage loans must be delivered to Lakeview Loan Servicing. Each Loan must satisfy the following terms and conditions: LOAN TYPES Fixed rate FHA 203(b), 234 (c), HUD 184,
More information7389 Florida Blvd., Suite 200A Baton Rouge, LA NMLS #
Version 2018.May 7389 Florida Blvd., Suite 200A Baton Rouge, LA 70806 855.476.8441 NMLS #64997 www.gmfspartners.com 2014, GMFS LLC. All Rights Reserved. GMFS is a registered trade name of GMFS LLC., NMLS
More information19 FREQUENTLY ASKED QUESTIONS
19 FREQUENTLY ASKED QUESTIONS TERMS & CONDITIONS Q. What is the Total Debt To Income ratio allowed under the Program? A. The Total Debt To Income ratio cannot exceed 50.00%, unless other restrictions apply.
More informationAssistance Program: City of Tampa Mortgage Assistance Program Code: DFLTAMPA
HOMEOWNERSHIP ASSISTANCE PROGRAM SUMMARY Product Description Allowable Origination Channel Program Name Second mortgage loan program to be used in conjunction with: FHA Fixed Rate Fannie Mae Fixed 30 year
More informationMortgage Services III, L.L.C.
Home Office Ph. #: 888-664-9108 Oakbrook Office Ph. #: 630-396-3553 Pricing E-Fax #: 309-807-0717 Web Site: www.msiloans.biz Pricing E-Mail: msipricing@msiloans.biz (Bank & Credit Union Partners Only)
More informationMortgage Services III, L.L.C.
Home Office Ph. #: 888-664-9108 Oakbrook Office Ph. #: 630-396-3553 Pricing E-Fax #: 309-807-0717 Web Site: www.msiloans.biz Pricing E-Mail: msipricing@msiloans.biz (Bank & Credit Union Partners Only)
More informationPurchase: Conventional, FHA, USDA, VA. Refinance: Conventional, FHA, USDA, VA. Emerging Banker
http://www.uhwholesale.com File Type Purchase: Conventional, FHA, USDA, VA Refinance: Conventional, FHA, USDA, VA Closing Doc Turn Times Initial CD will be issued when all Prior to Approval conditions
More information2 TERMS AND CONDITIONS
2 TERMS AND CONDITIONS All Home Advantage loans must be delivered to Lakeview Loan Servicing. Each Loan must satisfy the following terms and conditions: LOAN TYPES Fixed rate FHA 203(b), 234 (c), HUD 184,
More informationCrescent Mortgage Company 5901 Peachtree Dunwoody Road NE, Bldg C, Suite 250 Atlanta, GA 30328
(800) 851-0263 www.crescentexpress.net Wednesday, February 20, 2013 Crescent Mortgage Company 5901 Peachtree Dunwoody Road NE, Bldg C, Suite 250 Atlanta, GA 30328 EST Market Update: 2/20/2013 MBA Mortgage
More informationNative American Indian Housing Council 2018 Annual Conference. San Diego, CA May 30, Collaborating with Fannie Mae to Expand Affordable Housing
Native American Indian Housing Council 2018 Annual Conference San Diego, CA May 30, 2018 Collaborating with Fannie Mae to Expand Affordable Housing 2017 Fannie Mae. Trademarks of Fannie Mae. 1 Agenda Who
More informationFNMA HomeReady & Loan Programs 97%
HomeReady FNMA Standard 97% Description Program DU Eligibility Huron Valley Financial product offering for Fannie Mae 97% is three products offered: 97% Fannie Mae Home Ready Fannie Mae Standard 97% Fannie
More informationHOMEOWNERSHIP ASSISTANCE PROGRAM SUMMARY
Product Description Allowable Origination Channel HOMEOWNERSHIP ASSISTANCE PROGRAM SUMMARY Second mortgage loan program to be used in conjunction with: FHA Fixed Rate Fannie Mae Fixed 30 year Conforming
More informationMortgage Terms Glossary
Mortgage Terms Glossary Adjustable-Rate Mortgage (ARM) A mortgage where the interest rate is not fixed, but changes during the life of the loan in line with movements in an index rate. You may also see
More informationMortgage Market Statistical Annual 2017 Yearbook. Table of Contents
Mortgage Originations Mortgage Origination Activity Mortgage Market Statistical Annual 2017 Yearbook Table of Contents Mortgage Origination Indicators: 1995-2016... 3 Mortgage Originations by Product:
More information2 TERMS AND CONDITIONS
2 TERMS AND CONDITIONS All House Key loans must be delivered to Lakeview Loan Servicing, LLC Each House Key Program Mortgage Loan must satisfy the following terms and conditions: LOAN TYPES Fixed rate
More informationAssistance Program: Pasco County Homebuyer Assistance Program Code: DFLPCYHAP
HOMEOWNERSHIP ASSISTANCE PROGRAM SUMMARY Product Description Allowable Origination Channel Program Name Second mortgage loan program to be used in conjunction with: FHA Fixed Rate Fannie Mae Fixed 30 year
More informationAssistance Program: Palm Beach County SHIP Purchase Assistance Program Code: DFLPBCSMS
HOMEOWNERSHIP ASSISTANCE PROGRAM SUMMARY Product Description Allowable Origination Channel Program Name Second mortgage loan program to be used in conjunction with: FHA Fixed Rate Fannie Mae Fixed 30-year
More informationCrescent Mortgage Company 6600 Peachtree Dunwoody Rd NE, 600 Embassy Row Ste #650, Atlanta, GA 30328
(800) 851-0263 www.crescentmortgage.com Tuesday, April 16, 2019 Crescent Mortgage Company 6600 Peachtree Dunwoody Rd NE, 600 Embassy Row Ste #650, Atlanta, GA 30328 ET Market Update: 4/16/2019 Industrial
More informationAssistance Program: City of Austin Shared Equity Down Payment Assistance Code: DTXSHARED
HOMEOWNERSHIP ASSISTANCE PROGRAM SUMMARY Product Description Allowable Origination Channel Program Name Second mortgage loan program to be used in conjunction with: FHA Fixed Rate Fannie Mae Fixed 30-year
More informationAssistance Program: City of Dallas Homebuyer Assistance Program Category 1 Code: DTXCODMAP
Product Description HOMEOWNERSHIP ASSISTANCE PROGRAM SUMMARY Second mortgage loan program to be used in conjunction with: FHA Fixed Rate Fannie Mae Fixed 30-year Conforming Product (DU) Fannie Mae Housing
More informationCrescent Mortgage Company 6600 Peachtree Dunwoody Rd NE, 600 Embassy Row Ste #650, Atlanta, GA 30328
(800) 851-0263 www.crescentmortgage.com Friday, April 19, 2019 Crescent Mortgage Company 6600 Peachtree Dunwoody Rd NE, 600 Embassy Row Ste #650, Atlanta, GA 30328 ET Market Update: 4/19/2019 Bond Market
More informationsolid, established, reliable - since 1959 All appraisals must be ordered through Nationwide Property & Appraisal Services
Conforming Overlays solid, established, reliable - since 1959 1/5/17 All appraisals must be ordered through Nationwide Property & Appraisal Services All loans must be DU underwritten and receive an Approve
More informationAssistance Program: Marion County Homebuyer Purchase Assistance Program Code: DFLMARION
HOMEOWNERSHIP ASSISTANCE PROGRAM SUMMARY Product Description Allowable Origination Channel Program Name Second mortgage loan program to be used in conjunction with: FHA Fixed Rate Fannie Mae Fixed 30-year
More informationditech BUSINESS LENDING CONFORMING HIGH-BALANCE PRODUCT (FANNIE MAE ELIGIBLE)
1. PRODUCT DESCRIPTION ditech BUSINESS LENDING CONFORMING HIGH-BALANCE PRODUCT Conventional Conforming fixed rate mortgage with High- Balance loan limits DU Version 10.2 Servicing retained 10 to 30 year
More informationCrescent Mortgage Company 6600 Peachtree Dunwoody Rd NE, 600 Embassy Row Ste #650, Atlanta, GA 30328
(800) 851-0263 www.crescentmortgage.com Wednesday, March 20, 2019 Crescent Mortgage Company 6600 Peachtree Dunwoody Rd NE, 600 Embassy Row Ste #650, Atlanta, GA 30328 ET Market Update: 3/20/2019 Price
More informationAssistance Program: City of Jacksonville Head Start to Homeownership Program Code: DFLJAHOME
HOMEOWNERSHIP ASSISTANCE PROGRAM SUMMARY Product Description Allowable Origination Channel Program Name Second mortgage loan program to be used in conjunction with: FHA Fannie Mae Fixed 30 year Conforming
More informationditech BUSINESS LENDING CONFORMING FIXED RATE PRODUCT (FANNIE MAE ELIGIBLE)
1. PRODUCT DESCRIPTION Conventional Conforming fixed rate mortgage DU Version 10.2 Servicing retained 10 to 30 year term in annual increments Fully amortizing Qualified Mortgage (QM) Safe Harbor loans
More informationBasics in Mortgage Lending Test for Loan Officers
Basics in Mortgage Lending Test for Loan Officers Name: Date: Company Name: 1. The purpose of the Equal Credit Opportunity Act is: To discourage predatory lending To create new avenues and programs for
More informationConventional Matrix Fixed Rate revised 1/2/2019. Matrix 1
This matrix is a tool that is meant to be used in conjunction with Fannie Mae and Freddie Mac Seller Guides. Please reference the Selling Guides for guideline details: Fannie Mae hts://www.fanniemae.com/content/guide/selling/index.html
More information13 DOWNPAYMENT PROGRAMS
13 DOWNPAYMENT PROGRAMS DOWNPAYMENT ASSISTANCE PROGRAMS These guidelines apply to all downpayment assistance loans offered at the Commission Details for Home Advantage 0% Downpayment Assistance Program
More informationMSF LENDING GUIDE GENERAL
Announcement 08-16C Guideline Updates and Changes Effective Immediately for all loans: The following areas of Mortgage Solutions guidelines have been updated. All changes and additions appear in red. MSF
More informationWelcome to the TSAHC Lender Training. Module II Compliance, Closing, & Delivery
Welcome to the TSAHC Lender Training Module II Compliance, Closing, & Delivery Reservation & Origination Flow Lender completes loan reservation in the Lender Portal at www.tsm online.org. HFA Preferred
More informationOklahoma s Affordable Housing Resources
Oklahoma s Affordable Housing Resources The Regional Housing Forums 2017 - Ardmore - Enid - Midwest City - Tulsa - Economic Inclusion Ladder 1. Support quality and innovation in programs to build financial
More informationCrescent Mortgage Company 6600 Peachtree Dunwoody Rd NE, 600 Embassy Row Ste #650, Atlanta, GA 30328
(800) 851-0263 www.crescentmortgage.com Thursday, April 11, 2019 Crescent Mortgage Company 6600 Peachtree Dunwoody Rd NE, 600 Embassy Row Ste #650, Atlanta, GA 30328 ET Market Update: 4/11/2019 Producer
More informationAssistance Program: City of Tuscaloosa Home Purchase Assistance Program Code: DALTUSHPP
HOMEOWNERSHIP ASSISTANCE PROGRAM SUMMARY Product Description Allowable Origination Channel Program Name Second mortgage loan program to be used in conjunction with: FHA Fixed Rate Fannie Mae Fixed 30-year
More informationCrescent Mortgage Company 6600 Peachtree Dunwoody Rd NE, 600 Embassy Row Ste #650, Atlanta, GA 30328
(800) 851-0263 www.crescentmortgage.com Monday, March 25, 2019 Crescent Mortgage Company 6600 Peachtree Dunwoody Rd NE, 600 Embassy Row Ste #650, Atlanta, GA 30328 ET Market Update: 3/25/2019 Chicago Fed
More informationPRODUCT MATRICES. For Information on any of our products, please contact:
Correspondent Lending PRODUCT MATRICES March 2016 For general underwriting questions and scenarios or product guideline interpretation, call the Underwriting Help Line at (866) 807-6049 For status, pricing,
More informationAbility To Repay (ATR) Creditors must determine that borrowers have a reasonable ability to repay a loan based on consideration and verification of
Ability To Repay (ATR) Creditors must determine that borrowers have a reasonable ability to repay a loan based on consideration and verification of factors indicative of a consumer s credit capacity, including:
More informationLPA HOME POSSIBLE. Home Possible
LPA HOME POSSIBLE Description: Product Term HPML Loan Purpose Acceptable Property Types Home Possible Home Possible (HP) is a Freddie Mac Community Lending program is designed to meet the needs of low-
More informationSONYMA Conventional Plus Correspondent Term Sheet
Product Type 30 Year Fixed Rate Mortgage. Sales Focus This program combines the flexibility offered by Fannie Mae s HomeReady Mortgage along with SONYMA s Down Payment Assistance Loan (DPAL). It is designed
More informationAssistance Program: Pima County HOME Down Payment Assistance Loan Code: DAZFHRDPA
HOMEOWNERSHIP ASSISTANCE PROGRAM SUMMARY Product Description Allowable Origination Channel Program Name Program Approval Expiration Housing Authority Second mortgage loan program to be used in conjunction
More informationFFBF Wholesale / Correspondent Overlays
Conventional FHA VA USDA Assets Large Deposits Any large deposit not consistent with the borrower s earnings, employment and/or savings profile must be explained and sourced with acceptable documentation
More informationCrescent Mortgage Company 6600 Peachtree Dunwoody Rd NE, 600 Embassy Row Ste #650, Atlanta, GA 30328
(800) 851-0263 www.crescentmortgage.com Thursday, March 21, 2019 Crescent Mortgage Company 6600 Peachtree Dunwoody Rd NE, 600 Embassy Row Ste #650, Atlanta, GA 30328 ET Market Update: 3/21/2019 Philly
More informationCorrespondent Overlay Matrix
Correspondent Overlay Matrix The Overlay Matrix is a summary of Pacific Union Financial, LLC (Pacific Union) guideline overlays. This document should be used in conjunction with Pacific Union published
More informationExpanding Homeownership Responsibly with Freddie Mac Home Possible. February 2017
Expanding Homeownership Responsibly with Freddie Mac Home Possible February 2017 Presenter Dennis J. Smith Joined Freddie Mac in September 2015 as Affordable Lending Manager Works with lenders, nonprofits
More informationAssistance Program: Hernando County SHIP Down Payment Assistance Program Code: DFLHCSHIP
HOMEOWNERSHIP ASSISTANCE PROGRAM SUMMARY Product Description Allowable Origination Channel Program Name Second mortgage loan program to be used in conjunction with: FHA Fixed Rate Fannie Mae Fixed 30 year
More informationCrescent Mortgage Company 6600 Peachtree Dunwoody Rd NE, 600 Embassy Row Ste #650, Atlanta, GA 30328
(800) 851-0263 www.crescentmortgage.com Tuesday, March 26, 2019 Crescent Mortgage Company 6600 Peachtree Dunwoody Rd NE, 600 Embassy Row Ste #650, Atlanta, GA 30328 ET Market Update: 3/26/2019 Housing
More information<logo> Offered through 21 st Century Home Loans WHOLESALE DIVISION
CHF ACCESS Training Offered through 21 st Century Home Loans WHOLESALE DIVISION Desktop Underwriter is a registered trademark of Fannie Mae. Loan Prospector is a registered trademark of Freddie
More informationHOMEOWNERSHIP ASSISTANCE PROGRAM SUMMARY
HOMEOWNERSHIP ASSISTANCE PROGRAM SUMMARY Product Description Allowable Origination Channel Program Name Second mortgage loan program to be used in conjunction with: FHA Fixed Rate Fannie Mae Fixed 30 year
More informationCrescent Mortgage Company 6600 Peachtree Dunwoody Rd NE, 600 Embassy Row Ste #650, Atlanta, GA 30328
(800) 851-0263 www.crescentmortgage.com Tuesday, June 12, 2018 Crescent Mortgage Company 6600 Peachtree Dunwoody Rd NE, 600 Embassy Row Ste #650, Atlanta, GA 30328 ET Market Update: 6/12/2018 May Consumer
More informationAfter-tax APRPlus The APRPlus taking into account the effect of income taxes.
MORTGAGE GLOSSARY Adjustable Rate Mortgage Known as an ARM, is a Mortgage that has a fixed rate of interest for only a set period of time, typically one, three or five years. During the initial period
More informationKnow Your Products. Marc Kaplan, Sr. VP Retail Sales
Know Your Products Marc Kaplan, Sr. VP Retail Sales 1 Product Overview Agenda 1. Fannie Mae Federal National Mortgage Association (FNMA) 2. Freddie Mac Federal Home Loan Mortgage Corp. (FHLMC) 3. FHA Federal
More information7389 Florida Blvd., Suite 200A Baton Rouge, LA NMLS #
Version 2018.October 7389 Florida Blvd., Suite 200A Baton Rouge, LA 70806 855.476.8441 NMLS #64997 www.gmfspartners.com 2014, GMFS LLC. All Rights Reserved. GMFS is a registered trade name of GMFS LLC.,
More informationFHA Cash Out Occupancy Requirement and 2009 Temporary Loan Limits; Appraisal Reminder
Wholesale Partner Announcement At MSI Your Interest Is Our Priority! Issue Date 3/05/09 Effective Date Varies WPA 2009-010 FHA Cash Out Occupancy Requirement and 2009 Temporary Loan Limits; Appraisal Reminder
More informationditech BUSINESS LENDING CONFORMING FIXED RATE PRODUCT (FANNIE MAE ELIGIBLE)
1. PRODUCT DESCRIPTION Conventional Conforming fixed rate mortgage DU Version 10.1 Servicing retained 10 to 30 year term in annual increments Fully amortizing Qualified Mortgage (QM) Safe Harbor loans
More informationConventional Matrix Fixed Rate revised 1/2/2019. Matrix 1
This matrix is a tool that is meant to be used in conjunction with Fannie Mae and Freddie Mac Seller Guides. Please reference the Selling Guides for guideline details: Fannie Mae hts://www.fanniemae.com/content/guide/selling/index.html
More informationNational Wholesale Rate Sheet
Effective Fri 03/15/2019 9:36 AM EST AL, AR, DC, DE, IA, IN, KS, KY, LA, MI, MN, MO, MS, NC, ND, NE, OH, OK, SC, SD, TN, WI, WV Check out our Smart Series Pricing Specials! SmartEdge, SmartEdge+, and SmartCondo
More informationMortgage Services III, L.L.C.
Home Office Ph. #: 888-664-9108 Oakbrook Office Ph. #: 630-396-3553 Pricing E-Fax #: 309-807-0717 Web Site: www.msiloans.biz Pricing E-Mail: msipricing@msiloans.biz Bloomington Office Ph. #: 888-664-9108
More informationHOMEOWNERSHIP ASSISTANCE PROGRAM SUMMARY
HOMEOWNERSHIP ASSISTANCE PROGRAM SUMMARY Product Description Allowable Origination Channel Program Name Program Approval Expiration Housing Authority Second mortgage loan program to be used in conjunction
More informationDuty to Serve. Single Family Affordable Lending and Access to Credit May 2018
Duty to Serve Single Family Affordable Lending and Access to Credit May 2018 Freddie Mac s Mission A Better Freddie Mac and a better housing finance system For families...innovating to improve the liquidity,
More information% % >80% & 95%
Wholesale Division US Bank Home Mortgage Wholesale Pricing Effective: 2/13/18 98.500 98.5 HELP DESK 800-200-5881 Page: 1 of 5 CONVENTIONAL FIXED RATE LOANS 6 30 45 60 75 LOAN SIZE AND STATE ADJUSTMENT
More informationTHE FUNDAMENTALS OF MANUFACTURED LENDING
THE FUNDAMENTALS OF MANUFACTURED LENDING Last Revised: 03/09/16 DISCLAIMER These materials are intended for informational use only. This is neither legal advice nor a substitute for Agency Guidelines.
More informationditech BUSINESS LENDING HOMEREADY MORTGAGE PRODUCT
1. PRODUCT DESCRIPTION ditech BUSINESS LENDING HOMEREADY MORTGAGE PRODUCT Conventional Conforming fixed rate mortgage DU Version 10.1 Servicing retained 10-30 year term in annual increments Fully amortizing
More informationNEW HAMPSHIRE HOUSING FINANCE AUTHORITY Mortgage Credit Certificate Program (HFA: 328) Table of Contents
NEW HAMPSHIRE HOUSING FINANCE AUTHORITY Mortgage Credit Certificate Program () Table of Contents PART ONE: Overview, Purpose and Applicability 328.01 - Overview and Purpose 328.02 - Applicability and Additional
More informationValley National Bank Special Products and Services HCDNNJ HCA Training 8/16/18
Valley National Bank Special Products and Services HCDNNJ HCA Training 8/16/18 Jerry Flach (973) 305-8800 x 4252 gflach@valleynationalbank.com Sofi Cordero (973) 305-8800 x 8884 scordero@valleynationalbank.com
More informationNOTICE OF FUNDS AVAILABILITY RE: NEW MEXICO MORTGAGE FINANCE AUTHORITY (TAX-EXEMPT) FIRST HOME MBS PROGRAM JANUARY 2016
NOTICE OF FUNDS AVAILABILITY RE: NEW MEXICO MORTGAGE FINANCE AUTHORITY (TAX-EXEMPT) FIRST HOME MBS PROGRAM JANUARY 2016 The New Mexico Mortgage Finance Authority ("MFA") has funds available under its single
More informationFNMA Home Affordable Refinance Program (HARP) Transaction Type Number of Units Fixed Rate Max LTV/CLTV
FNMA Conventional Conforming Product Offering Transaction Type Number of Fixed Rate Cash-Out Refinance Second Home Adjustable Rate 1 Unit 97/97% 90/90% 2 Unit 85/85% 75/75% 3 4 75/75% 65/65% 1 Unit 80/80%
More informationTHE HOUSING & ECONOMIC RECOVERY ACT OF 2008 H.R (DETAILED SUMMARY) DIVISION A. TITLE I REFORM OF REGULATION OF ENTERPRISES
THE HOUSING & ECONOMIC RECOVERY ACT OF 2008 H.R. 3221 (DETAILED SUMMARY) DIVISION A. TITLE I REFORM OF REGULATION OF ENTERPRISES Subtitle A Improvement of Safety and Soundness Supervision. Establishes
More informationThe 2017 Economic Outlook Summit
The 2017 Economic Outlook Summit Southeast Fairfax Development Corporation Mount Vernon-Lee Chamber of Commerce Frank Nothaft, CoreLogic SVP & Chief Economist April 6, 2017 2017 Market: Less Affordability
More informationDELAWARE STATE HOUSING AUTHORITY (DSHA) HOMEOWNERSHIP LOAN PROGRAM NOTICE Effective May 1, 2018
DELAWARE STATE HOUSING AUTHORITY (DSHA) HOMEOWNERSHIP LOAN PROGRAM NOTICE Effective May 1, 2018 The sections of this Program Notice marked with an asterisk (*) are general summaries of provisions contained
More informationUNDERWRITING Secondary Financing. U.S. Bank Home Mortgage MRBP Division Master Servicer
UNDERWRITING Secondary Financing U.S. Bank Home Mortgage MRBP Division Master Servicer FHA 203b, 221 (d) (2) 203k VA USDA/RD Fannie Mae MyCommunityMortgage Suite of Products (97/100/Community Solutions/HomeChoice)
More informationFannie Mae 2012 Second-Quarter Credit Supplement. August 8, 2012
Fannie Mae 2012 Second-Quarter Credit Supplement August 8, 2012 This presentation includes information about Fannie Mae, including information contained in Fannie Mae s Quarterly Report on Form 10-Q for
More informationAccess Capital: Bridging the Divide Between Wall Street and Main Street
Access Capital: Bridging the Divide Between Wall Street and Main Street RBC GAM Fundamental Series Access Capital: Bridging the Divide Between Wall Street and Main Street 1 What started out as a regulatory
More informationAGENDA State of the industry First Time Homebuyer definition Pre-qualification letter vs Pre-approval letters Mortgage qualification guidelines Unders
AGENDA State of the industry First Time Homebuyer definition Pre-qualification letter vs Pre-approval letters Mortgage qualification guidelines Understanding Credit Programs Impact of TRID (TILA Respa
More informationmebridge About HomeBridge
About HomeBridge Our people are our best assets. They are well trained, knowledgeable and experienced so they can make decisions quickly. HomeBridge combines the financial stability of a large corporation
More information