November 2018
Single Family Programs Newsletter
THDA HOLIDAY SCHEDULE
 
November 22-23 Closed for Thanksgiving

December 24-25 Closed for Holidays

Dec 31 - Jan 1 Closed for New Year Holiday


IMPORTANT REMINDER:
Be sure to schedule your clients' homebuyer education class as early in the process as possible. Many counseling and education agencies are closed for extended days around the holidays.
 
10 ZIP CODES TO BE REMOVED FROM HHF-DPA PROGRAM
THDA is required by US Treasury to measure the impact of the Hardest Hit Funds to communities utilizing the funding in the HHF-DPA program which offers $15,000 in down payment assistance in designated ZIP Codes. In the last analysis of the HHF-DPA distress indicators, THDA found that there are 10 ZIP Codes that have seen positive results based on the current data. Therefore these 10 ZIP Codes will be removed from the HHF-DPA Program effective January 1, 2019 .

Loan applications and purchase agreements dated prior to January 1, 2019 in the named ZIP Codes will remain eligible for HHF-DPA so long as the loan closing occurs on or before February 28, 2019 .

The measurements indicate that the program has accomplished its goal to stabilize neighborhoods, decrease foreclosures and increase homeownership in these areas. HHF-DPA has spurred THDA loan production, but has also assisted in stimulating the housing market, as evidenced by these 10 ZIP Codes no longer meeting US Treasury requirements.

You may read the detailed Memo dated November 15 here on our website, and Program Guide Revision 140 here.

REALTOR CORNER

UPCOMING REALTOR® TRAININGS

Learn everything you need to know to write a THDA contract. Sign-up through your area Association for one of the following scheduled four-hour CE classes on the Great Choice Home Loan program. Questions may be addressed to Debbie Reeves at dreeves@thda.org .

Dec. 6, 12pm – 4pm at Greater Nashville REALTORS®

Feb. 13, 9am – 1pm at Knoxville Area Assn. of REALTORS®

Feb. 27, 12pm – 4pm at Clarksville Assn. of REALTORS®

Mar. 13, 9am – 1pm at Greater Nashville REALTORS®

Jun. 14, 12pm – 4pm at Greater Nashville REALTORS®

Jul. 26, 8:30am – 12:30pm at Clarksville Assn. of REALTORS®

Dec. 12, 2019, 12pm – 4pm at Greater Nashville REALTORS®
SRP Funds Make Everyone Happy!

As you know from the blasts and newsletters, loans not completed prior to 120 days from closing are subject to a loss of SRP funds. THDA's Closing Department does not want that to happen. Staff sends out monthly case reviews. Please make sure you are watching the dates on the report and uploading the missing and corrected documents. If you need an additional report at any time please email your closer and we will happily send it out to you. Help us make you happy.


WELCOME TRACY TO THE CLOSING TEAM
Loan Operations is excited to welcome Tracy Falk as our newest addition to our closing team. Not new to THDA, Tracy previously held the position of Escrow Specialist in our servicing division, Volunteer Mortgage Loan Servicing. Tracy brings over 13 years of experience in the mortgage industry, and enjoys the outdoors, golfing and spending time with her children. WELCOME TRACY!
FISCAL YEAR REPORT REVEALS 76% INCREASE IN LOAN APPLICATIONS
Dr. Hulya Arik, THDA Economist

THDA will release its FY2018 report this month, featuring some of the trends found in a high volume mortgage loan production year. The report will be available soon on the website research reports page, and shows a range of information about the loans, borrowers and locations of Tennesseans using the THDA’s Great Choice and related mortgage loan products.

Tennessee Housing Development Agency (THDA) saw a 76 % increase in the number of loan applications to its Great Choice and companion programs in FY2018. 

Read more, click here.

Research Reports Page: click here
Figure 1: Total Number of THDA First Loans Funded, by Loan Program [1]
FY 2009-2018
[ 1] “Loans with DPA” includes loans funded with Great Advantage, Great Start and Great Choice Plus programs, and “Loans without DPA” includes loans funded with Great Rate and Great Choice programs. Loans with DPA from FY09-FY13 reference the Great Advantage and Great Start Programs and from FY2013 – FY2018 reference the Great Choice Plus Program. In March 2017, THDA started the HHF-DPA in 55 approved zip codes, later expanding to 62 zip codes. HHF-DPA is presented separately here.
STATEWIDE
Monthly OA Rankings - October 31, 2018
Our total application production for October is $62,969,514 .
STATEWIDE
Year-to-Date OA Rankings through October 31, 2018
Our total application production through October is $553,793,841 .
EAST TN REGION
OA Rankings through October 31, 2018
MIDDLE TN REGION
OA Rankings through October 31, 2018
WEST TN REGION
OA Rankings through October 31, 2018
Star Rewards Update

25 Perfect Loan Submissions    

Connie Brewington, First Community Mortgage
  
19 Perfect Loan Submissions  

Taylor Gobble , First Citizens National

15 Perfect Loan Submissions

Frederica Maxwell , Mortgage Investors Group
Neva Huddleston, Everett Financial

13 Perfect Loan Submissions  

Shelley Allen, Bank of Cleveland

12 Perfect Loan Submissions  

Pam German, Leaders Credit Union
Top Honors Update

THDA Top Loan Originators

72 Closed Loans: Tammy Barr, Everett Financial      

40 Closed Loans:  Marissa French, People's Home Equity
37 Closed Loans: Carey Ann Cyr, CMG Mortgage
Brandy Deloach, First Community Mtg

35 Closed Loans:  Michael Worley, Mortgage Investors Group
  
               
THDA Top Selling Agents  
 
11 Closed Loans   Barbara Wilson

10 Closed Loans: Bernie Gallerani

8 Closed Loans: Michael Swift, Michael Baker, Joey Conner, Ryan Whiteside

7 Closed Loans: Marcia Botts


THDA Top Listing Agents 

13 Closed Loans Sarah Richards

8 Closed Loans: Jodie Parrish, Susanne Flynn, Jon Putt,
Ryan Whiteside, Joey Conner

7 Closed Loans: Todd Haltom, Cindi Richardson, Barbara Wilson

               
THDA Top Builders
           
31 Closed Loans:  LGI Homes

20 Closed Loans: Ole South

16 Closed Loans:  Ryan Homes

12 Closed Loans: Clayton Homes
Results for Star Rewards and Top Honors are based on accuracy of data 
submitted , for loans closed 1/1/18 to 10/31/18.
For mortgage related questions, please call the Single Family help desk at 615-815-2100 or email sfASK@thda.org.