New AH Program Targets Colorado

The National Organization of African Americans in Housing, the Colorado Housing and Finance Authority, and Mortgage Guaranty Insurance Corp. have launched an affordable housing program for first-time homebuyers that offers flexible underwriting criteria, low mortgage insurance premiums, and specialized counseling.The joint program was introduced at the annual National Association of State Housing Agencies conference in Chicago. "Our SmartPath program dovetails nicely with CHFA's mission, and we expect this initiative will help many Colorado families achieve long-term successful homeownership," said Rosa Dalia Hernandez, emerging markets manager for the Pacific region of the Milwaukee-based MGIC. Kevin Marchman, executive director of the Washington, D.C.-based NOAAH, said another program highlight is that it offers housing opportunities to low- and moderate-income families and underserved communities in Colorado by also targeting their counseling needs.