Master Mortgage Servicing

Transcription

1 Master Mortgage Servicing Idaho Housing and Finance Association

2 Where is Idaho? Homeownership Lending Department

3 Introduction The Idaho Housing and Finance Association (IHFA) partners with and supports other housing finance agencies (HFA s) with their loan servicing and secondary mortgage market needs. These services may include, among others, traditional functions such as payment processing, escrow analysis, and foreclosure actions. Our hope is to develop mutually beneficial partnerships that support the specific needs of HFA s. IHFA understands the specialized needs of servicing loans for first-time homeowners and the product offerings of HFA s. We understand that great effort is taken to create a new homeowner and that great effort is sometimes needed to preserve homeownership.

4 Who is Idaho Housing and Finance Association As a housing finance agency providing homebuyer financing for over 35 years, we share the same mission and perspective as the New Mexico Mortgage Finance Authority. Over $4 billion in tax-exempt mortgage revenue bond issues. Over $1.5 billion in loans sold through traditional secondary mortgage markets. Approved seller/servicer for GNMA, FNMA, Freddie Mac. Currently service over 25,000 loans and have over 20 years of experience in the servicing business. $750 million in loan sales for We work with over 200 participating lenders in our own lending program. Share a common mission of providing affordable homeownership.

5 Excellent Customer Service IHFA is dedicated to provide the best customer service available. Customer service is provided by a staff of 46 professionals from our office in Boise, Idaho. We provide multiple language services Spanish speaking customer service representatives on staff Interpreter services to communicate in any language A majority of our monthly customer survey satisfaction scores rating in the excellent category. All borrowers are provided a homebuyer welcome packet explaining the entire home loan experience.

6 Borrower Counseling Services We provide comprehensive loss mitigation services coupled with all the REO services. We provide counseling services for all Idaho residents not just IHFA Homeowners. We review borrowers situation for possible loan modification We are a HUD certified counseling center We work with non-ihfa borrowers and their mortgage services as an advocate for homeowners

7 Identity Branding and Promotion IHFA will maintain the identity brand with New Mexico borrowers and participating lenders, enhancing the HFA s impact in their state. IHFA lender web based reservation system Custom branded with your MFA s style, color, logos Secure loan documents upload capability Borrower web portal (MFA Branded) Loan status lookup Online payments Single 800 number, custom letterhead, and custom borrower phone reminders. IHFA will provide a single point of contact for all MFA questions and support.

8 Borrowers Please let the borrowers know that their loan will be serviced by HomeLoanServ. Please ship the closed loan documents to Idaho Housing and Finance using appropriate loan checklist and delivery mechanism. Electronic loan deliver Lender Connection Web Portal Or Fedex to Idaho Housing and Finance, 565 W. Myrtle Boise, ID IHFA will provide a single point of contact for all MFA questions and support

9 Program Information Idaho Housing overlays Idaho Housing support staff Send questions to or How Idaho Housing underwrites for the secondary market Endorsement to Idaho Housing and Finance Association MERS Requirements IHFA # Submission checklists (Idaho and New Mexico) Appraisal doc ID requirements Lender Forms ALLREGS.COM Purchase statements

10 Technology & Security IHFA uses comprehensive computer technology to store and manage the vast amount of loan data. From electronic documents to accounting exports. IHFA has all the tools necessary to securely maintain loan data. All web portals are secured. Secure upload of documents through the secure web portal. Graham-Leach-Bliley Act information security program. SAE 16 (SAS 70) Type 2 compliance (in process).

11 Lender Connection web portal Use after MFA approves the compliance documents Submit final 1003.FNM file Submit Closed Loan Package - PDF format Send original note to IHFA

12 Document Transfer Process Lender MFA s Reservation System Reservation Compliance Compliance Packet Loan Packet Closing Docs & 1003.FNM Compliance Approval Idaho s Lender Connection Purchasing Underwriting Quality Control Loan Purchase

13 Technology & Security Homeownership Lending Department