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Managing New & Diverse Single Family Loan Automation
Processes
John Sager and Susan SembaOctober 20, 2014
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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
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Strong Loan Production
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Loan Funding Evolution
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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
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Risk Position Tracking
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Risk Position Tracking
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Aligning Commitments with Secondary Market Sales
Secondary Market Report
Forward Sale Tracking Report
“Trued Up” Several Times each Week
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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
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Loan Variety
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IHFA Lender Connection
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IHFA Lender Connection
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IHFA Lender Connection
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IHFA Lender Connection
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www.idahohousing.com