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Managing New & Diverse Single Family Loan Automation
Processes
John Sager and Susan SembaOctober 20, 2014
IHFA Facts Started Transitioning from MRB Financing to
Alternative Secondary Market Channels in 2009 Large Geographic and
Diverse State 1.6 Million Population >70% Homeownership Whole Loan Preference “Best Execution” Strategy
Strong Loan Production
Loan Funding Evolution
Risk Management
Loan Commitments(Net of Fallout)
+Warehouse Purchases
________________Total Loan Position
Secondary Market Sales (Normally in $5 - $10 million Increments)
± $10 Million Maximum Risk
Risk Position Tracking
Risk Position Tracking
Aligning Commitments with Secondary Market Sales
Secondary Market Report
Forward Sale Tracking Report
“Trued Up” Several Times each Week
Pricing by Loan Type*Loan Product Loan Rate Key Features
HFA Preferred 4.00% Low Rate for 1st Time Homebuyer
Preferred Risk Share 5.75% No 1st Time Homebuyer Requirement, No Mortgage Insurance
FHA/VA/RD 3.50% Sales Price and Income Limits Apply; If FICO<620, DTI must be <45%
Conventional (30 Yr.) 3.75% No 1st Time Homebuyer Requirement, up to 140% AMI
Conventional (20 Yr.) 3.50% No 1st Time Homebuyer Requirement, up to 140% AMI
Conventional (15 Yr.) 3.00% No 1st Time Homebuyer Requirement, up to 140% AMI
*Down Payment Assistance and Homebuyer Tax Credit Programs (MCCs) are Available
Loan Variety
IHFA Lender Connection
IHFA Lender Connection
IHFA Lender Connection
IHFA Lender Connection
www.idahohousing.com