managing new & diverse single family loan automation processes john sager and susan semba...

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