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Program Announcement
October 28, 2011
ServiSolutions Approved by Board of Commissioners, Pending
Successful Contract Negotiations
On behalf of Kim Herman, our Executive Director, and the Homeownership Division staff at the Washington State Housing Finance Commission, we are delighted to announce ServiSolutions was approved by our board of Commissioners as our new Master Servicer for the House Key State Bond Program on October 27, 2011, pending successful contract negotiations.
ServiSolutions specializes in mortgage revenue bond programs and servicing loans for first-time homebuyers. ServiSolutions, a division of the Alabama Housing Finance Authority, services loans in a number of other states. The Commission looks forward to partnering with ServiSolutions and knows they will provide outstanding customer service to our lenders and borrowers.
Once the contract is finalized, your lending institution needs to become approved with ServiSolutions, if not currently working with them. Your corporate office will need to complete a lender questionnaire and send audited financials to them. Lenders also need to complete new Mortgage Origination Agreements with the Commission and ServiSolutions. We hope to have these documents available for your review shortly. Please stay tuned for further announcements.
Upon unanimous approval by our board of Commissioners of the recommendation to contract with ServiSolutions, Kim Herman said, “We are pleased with the ability to work with ServiSolutions and look forward to the opportunity for a smooth transition for our lenders and new House Key Program borrowers.” When Robert Strickland, AHFA’s executive director, learned of ServiSolutions’ approval, he said, “Thank you for selecting ServiSolutions to serve as Master Servicer for the Housing Finance Commission. We appreciate this unique opportunity to serve the citizens of Washington.”
We also would like to thank our special contacts at Bank of America for the assistance we received over the years. In particular, Dottie Sheppick, Mike Awadis, Dana Habrat, Ray Gonzales, Laura Khursheed, Tom O’Neill, and Wendy Catuogno all have been wonderful partners.
If you have additional questions, please contact Lisa DeBrock at lisa.debrock@wshfc.org or 206-287-4461.