October 2019
Single Family Programs Newsletter
Habitat Carter Work Project
THDA is so excited to be a sponsor for the Carter Work Project in Nashville where 21 families worked to build their Habitat homes. THDA staff joined hundreds of other volunteers alongside former President Jimmy Carter, Rosalynn Carter, Garth Brooks and Trisha Yearwood, This is the third time the Carter Work Project has come to Tennessee. The first was 1997 in Scott County and then Memphis three years ago. We are so happy for these homeowners and the new communities being built in middle Tennessee.



An informal conversation with THDA Single Family Managers where questions are answered and dialogue is encouraged!

Mark your Calendars!!
THDA’s next Monthly Lender Q&A with our Underwriting and Closing Managers is set for Tuesday, October 15, 2019 from 1:00 to 1:30 p.m. Central Time . This will be a Webex, with the log in information listed below. 


Meeting number (access code): 929 277 189
Meeting password: UkKch6ka

Please send questions you would like addressed on the call to SFAsk@thda.org .
Verbal VOE Included in Closing Packages
To align with industry standards, THDA does require a Verbal VOE included in the closing package. It must be dated within 10 days of closing and the employer must be the same employer as indicated on the 1003. This is required to fund the mortgage loan in a timely manner. If the borrower’s income is anything other than a W2 wage earner the 4506-T that is required in the closing package is sufficient.
Interest Rate
Please ensure all loan approvals have the correct interest rate: 3.50% for Great Choice and Great Choice Plus; or 3.0% for Homeownership for the Brave or Homeownership for the Brave Plus.
Selecting Loans in THELMA
When selecting your loan program in THELMA, to expedite the underwriting, please be sure to select the correct loan program.

  • Great Choice: Is a standalone first mortgage that does not have secondary financing from THDA.
  • Great Choice Plus: Is a combo loan, 1st mortgage and a 2nd mortgage up to 5% of the sales price.
  • Homeownership for the Brave: Is a standalone first mortgage, that does not have secondary financing from THDA. It does have a .50% reduced interest rate for eligible military and Veterans.
  • Homeownership for the Brave Plus: Is a combo loan just like Great Choice Plus, and also includes the .50% reduced interest rate just like Homeownership for the Brave.
If you need additional training on our loan programs, please contact SFAsk@thda.org .
NOFA Grant Announcement
Jayna Johnson, Homebuyer Education Manager

On Wednesday, September 30, HUD’s Office of Housing Counseling announced the award recipients for the 2019 Notice of Funding Availability (NOFA) Grant . THDA is excited about the opportunity to serve in the capacity, which will create a new revenue stream to assist the efforts of offering and creating awareness of housing education and counseling across the state of Tennessee. We are excited to join Clinch Powell, Eastern Eight, and West Tennessee Legal Services, all of which were also recipients of the Tennessee funds. 

With the funds for which THDA was approved, we plan to offer financial support and administrative oversight to eligible sub-grantees and our in-house counseling team. As we await additional guidance from HUD, we will continue internal conversations and trainings to ensure we have the resources and knowledge needed to be successful.
THDA is excited to offer financial support and training to our Homebuyer Education Network Providers interested in taking the HUD Certification Exam through the Office of Housing Counseling.  We will host a HUD BOOTCAMP on October 29-30, 2019 . With low national numbers for counselors who have completed the exam, THDA wants to serve as a resource for the agencies, counselors, and educators in Tennessee. According to HUD’s Final Rule, all HUD approved Housing Counseling Agencies, and agencies who administer HUD funded programs, are required to have staff complete and pass this certification exam by August 1, 2020

The training will give a full overview of the exam and offer study tips to prepare. THDA will reimburse the exam fee for counselors who complete the Bootcamp and take the exam within 2 months . With these efforts, we hope to support HUD’s objectives to:

  • Improve the quality and increase the visibility of housing counseling
  • Create a body of knowledgeable housing counselors which will lead a better identification of housing issues, more knowledgeable referrals and resolution of barriers, and a greater ability to recognize and avoid scams and discrimination
  • Reduce the fraud often seen in foreclosure prevention and real estate programs, such as scams and predatory lending

For complete details and registration information, please email jjohnson@thda.org .
Foreclosure Trends Report :

THDA uses CoreLogic MarketTrends data to produce a quarterly series of reports on delinquency and foreclosure in Tennessee. The 2nd quarter of 2019 saw the statewide totals of delinquent mortgages and loans in foreclosure decline. This report computes an Index Value for each county in Tennessee, which measures a county's delinquency and foreclosure rate relative to the statewide average. The full Index is included in the Appendix, along with numerous graphics and maps. To read the full report, please click here .
THDA Single Family Loan Program Report: FY2019

With 42 percent increase in total loan dollars (including both first mortgages and downpayment assistance), over $704 million was the highest dollar amount of loans funded in THDA’s history, even after adjusting for inflation. The proportion of loan production in East and Middle Tennessee increased while the share of THDA loans in West Tennessee slightly declined. The Homeownership for the Brave program has seen an uptick in utilization in recent years. In FY2019, 189 borrowers used the veteran discount compared to 102 veterans in FY2018. Of all THDA borrowers in fiscal year, 74 percent were white, and 22 percent were black. Of all single family home purchase loans originated in Tennessee (based on 2018 HMDA data), in 2018, 81 percent were white, while only 7.5 percent were black borrowers.

There were 127 THDA borrowers who moved to Tennessee from another state in FY2019, while most THDA borrowers, 70 percent, preferred staying in their current county. Half of the THDA borrowers in FY2019 either moved to a census tract with a better opportunity (in terms of employment, income, educational attainment and poverty) or stayed in a census tract with a similar opportunity score. A total of 122 lenders originated the loans funded in FY2019.

In this year’s report, we expanded our look at minority homeownership trends and also compared neighborhood home purchase trends. The full report will be available soon at THDA’s Research and Planning page .

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.

THDA Great Choice Mortgage Programs
Course # 7571 – 4HR. TREC CE Credit*

Nov. 7, 9:00am - 1pm Lakeway Assoc. of REALTORS®

Nov. 14, 8:30am – 12:30pm at Memphis Area Assn. of REALTORS®

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

REGISTRATION: Through Association’s regular CE class registration process.

*This schedule will increase as other Associations book their 2019 CE Classes with THDA.

Questions may be addressed to:
Debbie Reeves at dreeves@thda.org
Josh McKinney at jmckinney@thda.org

Monthly OA Rankings - September 30, 2019
Our total application production for September is $55,933,115.
Year-to-Date OA Rankings through September 30, 2019
Our total application production through September is $540,382,601.
OA Rankings through September 30, 2019
OA Rankings through September 30, 2019
OA Rankings through September 30, 2019
Star Rewards Update

28 Perfect Loan Submissions    

Jesica Krystofiak, First Community Mortgage

14 Perfect Loan Submissions    

Jessica Garbiras , First Community Mortgage

10 Perfect Loan Submissions    

Angie Campbell , Mortgage Investors Group

8 Perfect Loan Submissions    

Mary Lou Johnson, Mortgage Investors Group
Carrie Hoffmeister, Mortgage Investors Group
Dawn Potts , First Community Mortgage Wholesale
Taylor Gobble, First Citizens National
Neva Huddleston, Everett Financial
Top Honors Update

THDA Top Loan Originators
54 Closed Loans: Tammy Barr, Everett Financial      
41 Closed Loans:  Michael Worley, Mortgage Investors Group
33 Closed Loans: Carey Ann Cyr, CMG Financial
32 Closed Loans: Marissa French, Cardinal Financial
24 Closed Loans: Stacy Flynn, Mortgage Investors Group

THDA Top Selling Agents  
16 Closed Loans Bernie Gallerani
14 Closed Loans: Rachael Hilfiger
10 Closed Loans: Barbara Wilson, Cindi Richardson
9 Closed Loans: Joey Conner
8 Closed Loans: Michelle Hayes Thomas

THDA Top Listing Agents 

7 Closed Loans Tracy King, Todd Haltom
6 Closed Loans: Bernie Gallerani, Andy Mason, Mark Hite, Glenda Johnson,
Pam Redden, Deanna Reyes, Susanne Flynn, Melanie Sims,
Ryan Whiteside

THDA Top Builders 

32 Closed Loans Ole South
21 Closed Loans: Ryan Homes
13 Closed Loans: LGI Homes
Results for Star Rewards and Top Honors are based on accuracy of data 
submitted , for loans closed 1/1/19 to 09/30/19.
For mortgage related questions, please call the Single Family help desk at 615-815-2100 or email sfASK@thda.org.