Information for Single-Family Lending and Real Estate Professionals
Program Announcement

March 8, 2017
Reservations for Home Advantage Conventional HFA Preferred Program to Resume

Dear Lending Partners,

Over the last eight weeks ServiSolutions has made steady progress in its goal to catch up on the backlog of Home Advantage Conventional HFA Preferred loan purchases during the Commission’s temporary suspension of the program. As of this week ServiSolutions still holds a handful of aged loans in their pipeline, but has demonstrated significant improvement in file review turn times.

At this point in time we have determined to resume reservations under the Home Advantage HFA Preferred Conventional program delivered to ServiSolutions starting at 9:00 am PST on Friday, March 10.

We are optimistic that Conventional file review and purchase turn times will continue to improve as we move ahead. The Commission will continue to monitor loan volume and ServiSolutions’ ability to purchase loans in a timely manner. However, the Commission cannot predict loan volume and therefore encourages each participating lender to assess their tolerance for purchase delays accordingly. Please confirm program participation with your corporate office before reserving funds under our Home Advantage Conventional HFA Preferred program.

Our lending partners are our biggest asset. We thank you for your partnership, understanding, and patience during this brief program interruption. We are excited to resume the Home Advantage Conventional HFA Preferred loan program and look forward to a busy spring and summer. Please contact Lisa DeBrock, or Corinna Obar with any questions or comments.


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