Windows to Homeownership Newsletter-May

May 2019

Single Family Programs Newsletter

I S MY CLIENT PURCHASING IN A TARGETED AREA?

Do you know how to verify if a property is in an area that meets down payment assistance eligibility? You may have a client who isn’t a first-time homebuyer but is is eligible because they are purchasing in a targeted county or a targeted census tract. Your client may be purchasing in a designated ZIP code that is eligible for $15,000 HHF DPA.

THDA’s Research and Planning Division has created an interactive map to help you verify a specific property’s eligibility. You can find the map on the THDA website on either the Lender page or the Realtor page . On either page, go down to the bottom under Resource Links and click on “Targeted Areas”. Here are a few tips to help you navigate like an expert:

If you are looking up a specific address, you may enter it in the search bar.

ZIP Codes eligible for HHF-DPA down payment assistance are shown in orange.

ZIP Codes eligible for HHF-DPA down payment assistance, but whose eligibility ends after June 30, 2019, are shown in green.

To verify that a particular ZIP code is eligible for HHF-DPA, click on the orange or green ZIPs shown on the map, and a pop-up box should appear, confirming that it is an eligible HHF-DPA ZIP.

Zoom in for precise selection. From a zoomed-out extent, selector may show a ZIP code as "1 of 2", "1 of 3", or more. This is a function of the cursor, and does not have implications for HHF-DPA Eligibility.

To verify that an address is in a particular ZIP code, simply enter the address at https://tools.usps.com/zip-code-lookup.htm?byaddress.

To verify that an address is in a particular Census Tract, simply enter the address at https://geomap.ffiec.gov/FFIECGeocMap/GeocodeMap1.aspx.”

REMINDER: REMOVAL OF ZIP CODES FOR HHF-DPA

ZIP Codes listed below will be removed from the HHF-DPA Program and no longer eligible for the $15,000 down payment assistance funds effective July 1, 2019. Complete loan applications must be submitted to THDA by June 30, 2019.

37040 Clarksville

37042 Clarksville

37110 McMinnville

37303 Athens

37323 Cleveland

37660 Kingsport

37721 Plainview

37821 Newport

37912 Knoxville

38109 Memphis

38135 Bartlett

ATTENTION LOAN ORIGINATION STAFF

MONTHLY LENDER Q & A

WITH CAROLINE & SARAH

Mark your Calendars!!

THDA’s next Monthly Lender Q&A with our Underwriting and Closing Managers is set for May 21, 2019 from 1:00 to 2:00 p.m. Central Time . This will be a Webex, with the log in information listed below.

Please send questions you would like addressed on the call to one of the following email addresses: SSisler@thda.org (Underwriting) CRhodes@thda.org (Closing), or our general inbox SFAsk@thda.org . We look forward to hearing from you!

***Question of the Month***

If your question is chosen as the “Question of the Month,” you will receive some awesome THDA Swag! So keep those questions coming! New for May: We will choose one for Underwriting, and one for Closing!!

April’s QOM winner was:

Cynthia Morris of Castle and Cooke Mortgage

Congrats and Thank you Cynthia!

General items to be discussed this month:

Fiancés and other occupants identified throughout the loan
Importance of Processor contact
De-titling Mfg Homes
Delivery schedule for Thelma and post-closing

JOIN WEBEX MEETING

https://thdatraining.webex.com/thdatraining/j.php?MTID=m04d0cde167c0a5bea35e942415f03112

Meeting number (access code): 929 277 189 Host key: 363286

Meeting password: UkKch6ka

JOIN BY PHONE

1-650-479-3208 Call-in toll number (US/Canada) Tap here to call (mobile phones only, hosts not supported): tel:%2B1-650-479-3208,,*01*929277189%23%23*01*

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.

THDA Great Choice Mortgage Programs

Course # 7571 – 4HR. TREC CE Credit*

May 21, 9am – 1pm Robertson Co. Assn. of REALTORS®

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

Jun. 27, 9am – 1pm at Upper Cumberland Assn. of REALTORS®

Jul. 16, 1pm – 5pm at Memphis Area Assn. of REALTORS®

Jul. 25, 9am – 1pm Middle TN Assn. of REALTORS®

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

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 .

WELCOME NEW CLOSING STAFF

Please help us welcome Kelly Murph , Mortgage Post-Closer. Kelly is a transplant to Tennessee from Alabama. She has a daughter that is a recent college graduate just getting started in her career. Some of the activities she enjoys outside of family and work are running and fitness activities. She has been in the mortgage industry since 1998. Over the years she has worked in all different positions like processing, funding, closing, underwriting and post-closing. She looks forward to a long and stable career with THDA.

Please help us welcome Katina Brewer , Mortgage Post-Closer. Originally from Indianapolis, Indiana, Katina moved to Tennessee 11 months ago. She has two children, a daughter and a son. She has been in the mortgage industry since 2002, and previously worked in the servicing division, VMLS since June, 2018.

Welcome Katina!

DATA AND REPORTS

THDA uses CoreLogic MarketTrends data to produce a quarterly series of reports on delinquency and foreclosure in Tennessee. The 4th quarter of 2018 saw the statewide totals of delinquent mortgages and loans in foreclosure decline. Tennessee’s Q4 rates of delinquency and foreclosure1 were also at their lowest levels of any quarter since early 2010 (the earliest date for these data). Click here to view the report.