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Program Announcement
December 29, 2017
Additional Master Servicer–Welcome Idaho Housing and Finance
Association
Dear Lending Partners,
I am pleased to announce that the Housing Finance Commission will soon partner with two outstanding loan servicers to meet your needs!
In addition to the continued stellar service of Lakeview Loan Servicing, who has been an amazing partner for the last year, we are excited to welcome the Idaho Housing and Finance Association to our servicing team.
Idaho Housing—the Commission’s counterpart in Idaho—is a trusted servicer with a proven track record over 27 years. We are confident that together, these two servicers will greatly enhance our ability to serve your needs as lenders.
Q&A:
How did this come about?
This decision is the result of an intensive Request for Proposals process that began in July 2017. Interviews were conducted in August, and Lakeview and Idaho Housing were selected.
How will the Commission’s portfolio be divided?
Lakeview Loan Servicing will continue to purchase all Ginnie Mae Home Advantage (FHA, VA, USDA) loans.
Idaho Housing will purchase Fannie Mae Conventional Home Advantage loans and all House Key Opportunity loans.
ServiSolutions no longer purchases WSHFC loans.
When will the new servicers start?
We anticipate starting with new reservations going forward with Idaho Housing commencing on March 1, 2018.
What should I do to prepare?
Make sure you are approved with Idaho Housing: Many of our participating lenders are already conducting business with Idaho Housing. If you are not, we encourage you to immediately start the approval process by sending the approval checklist items to the Commission http://www.wshfc.org/sf/LoanServicerDocumentsIdaho2018.htm. Please contact Corinna Obar at corinna.obar@wshfc.org or 206-287-4414 with additional questions.
Sign a new Mortgage Origination Agreement: Current participating lenders will be required to sign a new Mortgage Origination Agreement with the Commission and Idaho Housing. These documents are posted to the Commission’s website http://www.wshfc.org/sf/LoanServicerDocumentsIdaho2018.htm and corporate offices will be notified.
Watch your email for updates! We’ll be sending you more information about the timeline. Also, updated manuals, forms, and training opportunities with Idaho Housing are coming soon.
The Commission would like to thank Gary Manfredi and the staff at Lakeview Loan Servicing for their assistance over the past year and their continued support of the WSHFC Homeownership Program.
If you have any questions, please feel free to contact Corinna Obar (corinna.obar@wshfc.org, 206-287-4414) or me (lisa.debrock@wshfc.org, 206-287-4461).
Thank you for your partnership!
Lisa DeBrock
Homeownership Director