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NALHFA Member Spotlight: Southeast Texas Housing Finance Corporation

Posted By Administration, Tuesday, June 25, 2019

During its 2019 Annual Conference, NALHFA presented the Southeast Texas Housing Finance Corporation (SETH) with the Single-Family Excellence award in recognition of the SETH/Freddie Mac Lender Training Webinar Series.

 

SETH’s goal for the webinar series was to increase awareness of the advantages found in their DPA Products and increase program usage among borrowers in the low and moderate income communities. With this webinar, SETH was able to reach over 1,000 Loan Officers in Texas with training and tools to help educate lenders about program options available to first time homebuyers and incentives to assist homebuyers under 80% AMI.

Freddie Mac provided the webinar at no cost to SETH or the Lenders in attendance. Freddie Mac included specific program guidelines, such as SETH’s income limits, purchase price limits and program logos. There was no cost to SETH to create this customized presentation and since it was a webinar, there were no additional cost incurred for the presentation.

This webinar provided program training and valuable insights to Lenders when working with DPA Programs. Detailing how to use the Freddie Mac HFA Advantage Product to provide a superior mortgage option for their buyers was one of SETH’s goals. The training covered special advantages for buyers with student loan debt, grants for buyers under 50% and 80% AMI, free homebuyer education provided by SETH for lower income borrowers, lower mortgage insurance requirements, no loan level price adjustments and marketing flyers/social media materials available to reach buyers in local communities. Lenders also had the opportunity to ask questions to the presenters which included Freddie Mac, SETH as the HFA, and US Bank and Gateway Mortgage as the Master Servicers.

The first training was for the SETH 5 Star Program in October 2018 and reached the capacity of 500 very quickly. Freddie Mac stated that this was the largest HFA Training they had ever conducted. Freddie then offered a second date to accommodate the lenders that continued to express interest. A 2nd webinar was scheduled later in October and received another 189 attendees. Then in February 2019, SETH offered this training again for their GoldStar Program. This webinar had 350 attendees. The final total for these 3 webinars was 1,039 registered attendees. SETH targeted the following special groups: single-family and large family households, minorities and recently graduated students. SETH credit this series of webinars with a 25% increase in program activity among low and moderate income buyers in several major counties in Texas: Bexar, Dallas, Tarrant and Harris.

SETH believes the collaboration with industry partners was a key to the success of these webinars. Freddie Mac has proven to be a valuable resource by providing this training to SETH’s Lender Partners. This webinar series serves as a model for all HFAs, as it is easily replicated and can be quickly tailored to meet the needs of an HFA.

 

Learn more about Southeast Texas Housing Finance Corporation’s award-winning webinar series in the latest episode of the NALHFA Affordable Housing Podcast.

Tags:  Member Spotlight 

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