IHDA Upcoming Dates
May 19, 2017
11 a.m.
111 E. Wacker, Ste. 1000
Chicago, IL 60601

IHDA Loan Officer of the Month

IHDA's Homeownership Department is pleased to name Jason Accola , Senior Mortgage Consultant at Wintrust Mortgage in Chicago as our #1 Loan Officer in the State. Jason specializes in a broad range of programs for every type of borrower, from first-time and repeat buyers to homeowners looking to refinance. Over the course of 2016, he connected his clients with nearly $14 million in IHDA first mortgages, delivering solutions that helped 92 households buy or refinance their home. He provides extraordinary service to all buyers, and with the help of IHDA's 1stHome , @Home and I-Refi programs, he has the options to find the best possible loan for every situation.   T hanks, Jason!
Luz Ramirez Joins IHDA's Board of Directors
Governor Rauner on March 13 announced that Luz Ramirez, Vice Pres ident of YWCA La Voz Latina, has been appointed to the IHDA Board of Directors. 

Luz brings more than 25 years of experience in education and non-profit program development to the IHDA Board, and is currently responsible for the overall management and operation of a non-profit community resource center d edicated to helping Hispanic children and families in the Rockford area. Prior to leading La Voz Latina, she worked as the Special Assistant to the Superintendent of Rockford Public Schools where she oversaw community and parent engagement initiatives and organized major district events .

For her full bio, please visit ihda.org.
New Program Provides $35,000 to Help Seniors Struggling with Reverse Mortgages
Starting April 3, Illinois seniors struggling to pay the expenses associated with their reverse mortgages may be eligible for up to $35,000 in federal assistance through IHDA's new Reverse Mortgage Assistance Program.

The Reverse Mortgage Assistance Program helps homeowners 62 and older who have fallen behind on their property taxes, homeowner's insurance payments, or homeowners' association fees due to unexpected financial hardships. The program reinstates a borrower's overdue expenses and pays for future taxes, insurance and fees for up to two years, allowing the homeowner to develop a financial recovery plan with a certified housing counselor to get back on their feet.

The program is the latest expansion of the Hardest Hit Program, a federally funded mortgage assistance program created by the U.S. Department of the Treasury. Interested homeowners can start a free application through a participating housing counseling agency.
Borrowers Sinking in an Underwater Mortgage? Extend a $50,000 Lifeline with I-Refi
More than 1 million homeowners escaped negative equity in 2016, but thousands of Chicago-area homeowners - 12 percent of all borrowers with a mortgage - are discovering that their loan balance still exceeds the value of their home. Many may not know where to turn, but if they have continued to pay their mortgage on time, they could qualify for up to $50,000 and a new loan with I-Refi.

Holley Mouser bought her Chicago condo in 2006 and made her payments even as the value of her home plummeted during the housing crisis. Years later, with her mortgage still severely underwater and a high interest rate eating away at her savings, she was looking for help. Holley found the relief she needed when she met with Beth Lewis from Perl Mortgage and applied for the I-Refi program. In just two months, the program bought down her principal to right-size her mortgage and refinanced her into a new loan aligned with her property's current value. After years of worrying about making high payments or ruining her credit, she has a loan she can afford and can stay in her home.
Help New Buyers Overcome Barriers During National Homeownership Month
June will be National Homeownership Month, a time for lenders, Realtors, counselors and all levels of government to highlight homeownership's role in building wealth and strong neighborhoods, and to provide families with the tools and information they need to overcome barriers in the home buying process.

One of the biggest barriers continues to be the down payment. There were more homes sold last year than any year since 2006, but affordability pressures and confusion about down payment requirements prevented many potential buyers from reaching the market. However, lenders and Realtors who work with IHDA's affordable first mortgage programs can make homeownership more accessible by offering up to $7,500 in down payment assistance, tax benefits and free pre-purchase counseling services for those who are ready and able to buy.  First-time buyers may not have a 10 or 20 percent down payment in their savings, but they do have options. And with some down payment help, many are finding that homeownership is within reach.

Visit www.ihda.org for more information or contact IHDA's Homeownership team at AtHomeIllinois@ihda.org .
IHDA's Top 12 Loan Officers Helped 400 First-Time Buyers in 2016
IHDA announced our top performing lenders and loan officers last week, recognizing our most productive partners in four regions across the state over the course of 2016. Through these partners and others, over 6,000 Illinois households purchased their first home last year with $43 million in down payment assistance from IHDA. They play a crucial role in helping new buyers find a loan that's right for them, and we're looking forward to another great year in 2017.

Top IHDA Lenders by Region and Volume in 2016:

Chicagoland Households Total Volume
Jason Accola,
Wintrust Mortgage
92 $13,747,749
Dan Rogers,
Guaranteed Rate
35 $7,638,445
Joy Prisching,
Key Mortgage Services
23 $3,030,434

Northwest Illinois Households Total Volume
Rob Grindle,
Alpine Bank
55 $4,344,211
Tammy McNeany,
Wintrust Mortgage
43 $4,304,166
Pam DeSanti,
Northwest Bank of Rockford
12 $1,200,000

Central Illinois Households Total Volume
Sheila Walker,
First State Bank of Illinois
33 $2,659,960
Christopher Schaller,
Diamond Residential Mortgage
24 $1,780,000
Vikki Price,
Mortgage Services III
18 $1,153,487

Southern Illinois Households Total Volume
Dean William DeVries,
Highland Residential Mortgage
31 $1,207,301
Nancy Williams,
Gershman Investment Corporation
14 $1,133,975
Diana Nicholls,
Busey Home Mortgage
13 $678,756

Visit our Finding a Lender page for the full list of lenders and loan officers by region.
Neighborhood Revitalization Grants to Go to Work
Communities across the state have been awarded more than $15 million in grant funding under two IHDA revitalization and repair programs designed to jumpstart local stabilization efforts. Using the funds, local governments and community action agencies will launch or continue programs to rebuild hard hit neighborhoods and improve quality of life for residents.

Twenty-one local governments and community-based organizations secured grants totaling $6 million under IHDA's Single Family Rehabilitation Program to help low-income homeowners who need assistance repairing their homes. Individual homeowners can to receive up to $45,000 in forgivable assistance to make overdue repairs and remove health and safety hazards. Homeowners interested in applying can find a list of funded organizations here.

In addition, a total of 68 municipalities, counties and land banks were approved  to receive $9.5 million under the Abandoned Property Program, which helps local governments eliminate vacant and blighted houses in their communities. Grantees are currently working with IHDA staff, and the new funding period will open later this year.
Register for the Chicago Rehab Network's 2017 Community Development Training Series
High housing cost burdens, homelessness, vacancies and abandonment are all challenges community-based developers work to overcome. Sign up for the Chicago Rehab Network's annual Community Development and Empowerment series for the practical tools and real-world knowledge you need to tackle these issues. Sponsored this year by IHDA, the series dives into everything from models for community planning to development financing strategies to the key aspects of responsible property management. Courses are designed for staff and board members of community-based developers, government employees, community bankers and elected officials. 

Online registration is quick and easy. You can sign up here for individual classes or the whole series.
Cannon Place Brings New Homes for Veterans to Danville
A new 65-unit development for veterans opened in Danville on April 20, thanks to the VA Illiana Health Care System, Mercy Housing Lakefront, and the Danville Housing Authority. The new building is one of the first of its kind, providing permanent affordable housing on a VA medical center campus. Financed with a Build Illinois Bond Program loan and state and federal tax credits, Cannon Place prov ides residents with assistance in gaining medical and financial benefits, referrals to services provided by the VA - including mental and physical health treatment - and linkages to community partnerships designed to help families achieve and maintain self-sufficiency. In addition to the services provided on-site, residents have access to the Danville Area Community College less than one mile away, which provides employment training, career counseling and assistance in continuing education.
New Options for Senior Housing Coming to O'Fallon
We were excited to join RCH Development and the O'Fallon Chamber of Commerce on March 29 to kick off construction of the Lincoln Park Villas, a new development bringing 72 much-needed apartments for seniors to St. Clair County.

The new apartments will address a pent up demand for senior housing in the city, where the current affordable options are well-occupied with lengthy waiting lists. Developed with Low-Income Housing Tax Credits, the  property will feature 13 one-story buildings, each with four to eight apartments and a shared community building for residents 55 and older. With access to local amenities including groceries, healthcare and transportation, the Villas will greatly improve the quality of housing available and help expand the existing affordable options for senior households in the area.

Congratulations to RCH and the City of O'Fallon!
Developers... We Want to Hear From You
Please remember to reach out to IHDA when planning your next groundbreaking or grand opening. Contact Max Mueller in IHDA's Marketing & Communications Department to help identify the best dates, speakers and media opportunities that make these events a success.