Single Family Programs Newsletter | |
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Housing Education Network Train the Trainer
THDA Mortgage Report for 2022
Rate Lock and Loan Submission Q&A Training
Lender Notice
REALTOR® Training Options
Tennessee Housing Trends
Lender Rankings
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HOUSING EDUCATION NETWORK
TRAIN THE TRAINER
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The Housing Education Resource Team recently hosted two trainings for the Housing Education Network Providers.
JoAnn DePenning of DePenning Consulting Group facilitated a course called Train the Trainer on April 18-20 . This course covered fundamental skills needed by housing educators & counselors to facilitate housing education classes. The course provided tips on how to set up a good learning environment, including sessions on Effective Adult Education Techniques; Facilitation Tips for Successful Presentations; and an Overview of the HUD Housing Counseling Guidelines to ensure program compliance.
The following week, the team hosted 10 network providers in a 3-day study session in preparation for them to take the HUD Housing Counseling Exam. Effective December 31, 2024 all THDA Housing Education providers must be HUD approved. According to HUD’s Office of Housing Counseling, in addition to the agency being approved, at least one staff person must take and pass the HUD Housing Counseling Certification Exam.
In an effort to support our network members, the HE&RT team plans to offer training and study prep courses twice a year. Once certified, a counselor is determined to be proficient and eligible to counsel clients in any of these six categories: Financial Management, Housing Affordability, Fair Housing, Homeownership, Avoiding Foreclosure, and Tenancy (Rental).
Kudos to our in-house HUD Certified Counselors Kendra Love, Montrice Brown-Miller, and Angela Hall for facilitating the Bootcamp!
For more information about the THDA Homebuyer Education Program, please visit our website: https://thda.org/homebuyers/homebuyer-education. Feel free to also contact us directly at: sfask@thda.org if you have any specific questions.
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We also want to give special recognition to a network provider, Carlina Rollins with William Franklin Buchanan CDC, for recently passing the HUD Housing Counseling exam! | |
THDA MORTGAGE REPORT FOR 2022 | |
THDA created Great Choice Home Loan programs to make homeownership available and affordable for Tennesseans of middle/moderate income. In 2022, both the total number and dollar amount of loans funded were higher than the year before, although the loan production was only half of the pre-pandemic level. Availability of homes within THDA’s purchase price limits impacted the loan production adversely. | |
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LENDER TRAINING OPPORTUNITY | |
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Great Choice & HFA Advantage Operations Training
Live via WebEx
This training covers all the basics of the Great Choice Loan Program and is required for all newly approved lenders, as well as a refresher course for experienced staff. Topics include eligibility criteria, Homebuyer Education requirements, Rate Lock & Loan Submission, Underwriting, Closing & Funding requirements, and processes for each execution. While this is a prepared presentation, we will still leave plenty of time at the end for questions.
Click Lender Training to register for one of the sessions below.
Morning Sessions 9:00 AM-10:30 AM Central/ 10:00 AM-11:30 AM Eastern
June 14 Topic: HFA Advantage
Afternoon Sessions 1:00 PM- 2:30 PM Central/ 2:00 PM- 3:30 PM Eastern
June 14 Topic: Great Choice
Please email rbicknell@thda.org for a monthly calendar invitation.
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As part of my role as one of THDA’s Real Estate Industry Advisors, I try to keep up with state housing sales data in some of our biggest markets. The national, state, and local Realtor associations do an incredible job of pulling together this information and making it available to their members and the public at large. I thought that it might be beneficial to have some of this data complied together in one place. I’ve included the credits for this information below; please check in with these organizations to learn more about housing sales in their markets.
- Josh McKinney, Real Estate Industry Account Advisor
Housing Sales Data as of May 8, 2023:
National Housing Trends: The NAR Housing Affordability Index “measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at the national and regional levels based on the most recent price and income data.” Learn more about the index here.
Credit to the National Association of Realtors
State Housing Trends: Market Snapshot for April 2023
- Months of Inventory: 3.54 (+22.4% Y/Y or Year-over-Year)
- Closed Home Sales: 7,663 (-29.6% Y/Y)
- Listings: 32,662 (+0.3% Y/Y)
- Median Home Sales Price: $273,665 (+0.9% Y/Y)
Credit to Tennessee Realtors
Chattanooga: March 2023
- Listings: 1,539 (+42.6% M/M or Month over Month)
- Days on Market: 36 (+85% YTD or Year to Date)
- Median Sales Price: $315,000 (+2.7% YTD)
- Pending: 1,031 (-5.9% YTD)
- Closed Sales: 964 (-12.3% YTD)
Credit to Greater Chattanooga Realtors
Knoxville: April 2023
- Median Sales Price: $325,000 (+5.88% Y/Y)
- Days on Market: 16 days (down from 25 days from previous month)
- Knoxville Area home sales increased in March — up 8.0% from the previous month but down 8.9% from a year ago.
- Total housing inventory remains elevated – up 95% from a year ago but still well below pre-pandemic levels.
- 23.8% of homes sold for more than the asking price, down from 25% the previous month, with 12% selling for at least $10,000 over asking and 4% selling for at least $25,000 over asking.
- New construction represented 15% of total home sales.
Credit to Hancen Sale, Knoxville Area Association of Realtors
Memphis: March 2023
- Closings: 1,367 (-27.6% Y/Y)
- Median Sales Price: $212,581 (-1.1% Y/Y)
- Average Sales Price: $264,242 (+3.8% Y/Y)
- Single Family Listings: 2,646
- SF Average List Price: $357,845
- Pending SF Sales: 910
- Pending SF Average List Price: $305,606
- February Foreclosures: 26 (+8.3% Y/Y)
Credit to the Memphis Area Association of Realtors
Nashville: April 2023
- Closings: 2,753 ( 3,818 in 2022)
- Residential Inventory: 8,788
- Median Price: $468,300
- Pending Sales: 3,196
- Days on Market: 53
Credit to the Greater Nashville Realtors
Northeast Tennessee: April 2023
- Closed Sales: 582 (-28.6% Y/Y)
- Inventory: 1,299 (+41.2% Y/Y)
- Average Sales Price: $283,875 (+8.3% Y/Y)
- Median Sales Price: $249,450 (+13.4% Y/Y)
- Median Days on Market: 47 (42 in March 2022)
- New Listings: 874 (-16.3% Y/Y)
Credit to the Northeast Tennessee Association of Realtors
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M-T-D Rankings - April 2023 | |
Our total application production for April is $53,750,674. | |
Y-T-D Rankings through April 30, 2023 | |
Our total application production through April 30, 2023 is $141,476,336. | |
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EAST TN
Y-T-D Rankings through April 30, 2023
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MIDDLE TN
Y-T-D Rankings through April 30, 2023
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WEST TN
Y-T-D Rankings through April 30, 2023
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For mortgage related questions, please call the Single Family help desk
at 615-815-2100 or email SFask@thda.org.
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