HFA to Allow 3rd-Party Originations

June 15, 2004, 2:00 p.m. EDT 1 Min Read

Licensed mortgage brokers will be able to originate loans for the Pennsylvania Housing Finance Agency's homeownership programs beginning Oct. 1, ending the agency's tradition of barring third-party originations.Brian A. Hudson Sr., executive director of the PHFA, said the change is long overdue. "Mortgage brokers are important participants in the homebuying process, and will help us extend PHFA's programs to a lot of families we couldn't reach before now," Mr. Hudson said. The agency can be found online at http://www.phfa.org.

For reprint and licensing requests for this article, click here.

MORE FROM NATIONAL MORTGAGE NEWS

Earnings

PennyMac touts broker channel gains as earnings rebound

The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.

By Andrew Martinez

11h ago
Servicing

CFPB offers specifics on servicing fees subject to crackdown

The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.

By Bonnie Sinnock

April 24
Technology

Figure Technology Solutions taps former SoFi exec as CEO

Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.

By Maria Volkova

April 24
Election 2024

Which party has the edge on housing? Polls say neither

A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.

By Spencer Lee

April 24
Earnings

Mr. Cooper's profits triple as servicing's fortunes improve

The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.

By Bonnie Sinnock

April 24
Mortgage applications

Potential buyers stay home during latest rate surge

The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.

By Spencer Lee

April 24